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Market Report

Friday, 13-Dec-2013

NSE

  • In its fourth straight fall after hitting its lifetime peak on Monday, the Sensex closed at 20,715.58, down 210.03 points or -1.00 per cent. The 50-share NSE index Nifty fell by 68.65 points, or -1.10 per cent, to close at 6,168.40 today as 43 constituents slipped on across-the-board selling due to mounting speculation that the RBI will hike interest rate and the US Fed will trim its economic stimulus next week.

  • Investor wealth fell by Rs 75,000 crore as overall 1,575 stocks slid out of the 2,610 traded on the BSE. In 4 days, Sensex has lost 611 points, eroding almost all the gains logged in the recent state election-fuelled rally. For the week, the barometer shed 280.95 points, the biggest loss since week ended November 8.

  • After showing some resilience in early trades, the broader markets too tumbled in closing hours. The midcap index was down 1.3% and the smallcap index gave of 1% in line with the BSE benchmark index.

  • Mirroring the fall in stocks, the rupee fell over 35 paise to 62.19 versus US dollar in late trade today. Global markets were nervous as investors prepared for the US Federal Reserve's decision next week on whether to reduce its USD 85-billion-a-month monetary stimulus.

  • Looks like the market rally has fizzled out, say experts. The Indian markets have nosedived after hitting all-time highs on Monday, reacting to state assembly elections results. The S&P BSE Sensex has slipped over 670 points and the Nifty has lost 165 points from all-time highs early this week. The market, in its euphoria over expectations of the BJP coming to power in the general elections, ran up discounting various factors like inflationary pressure, domestic economic growth, QE tapering in the US and general elections. Now it seems that the market rally is over.

NIFTY 3-Month

(Data/Charts courtesy NSEI/Yahoo!/iCharts/The Economic Times)