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Market Report

Monday, 30-Dec-2013

NSE

  • The BSE Sensex, which had gained 160.87 points in previous two sessions, fell by 50.57 points, or -0.24 per cent to close at 21,143.01, after touching a low of 21,089.21 today. The broad-based 50-share NSE index Nifty declined by 22.70 points, or -0.36 per cent, to end at 6,291.10, and touched the day's low of 6,273.15 today on selling in IT, banking and realty shares as investors churned portfolios with the calendar year drawing to a close.

  • Brokers said profit-booking in recent gainers in IT like Wipro, and industrial stocks led to the decline. Absence of foreign investors due to year-end also reduced the volume of activity.

  • The rupee was trading lower at 62-level versus dollar. Rate-sensitive stocks declined after RBI Governor Raghuram Rajan today said high inflation is limiting the central bank's ability to boost growth with an accommodative monetary policy. Key indices slumped after the RBI in its Financial Stability Report flagged concerns over continuing high inflation amid slowdown in growth. The report also raised a red flag on asset quality of commercial banks sending banking stocks tumbling.

  • Investors are now eagerly awaiting the April-November fiscal deficit data, due on Tuesday, and the manufacturing PMI (Purchasing Managers' Index) for December, due on Thursday, which will help them gain insights into the extent of the economic slowdown.

  • Globally, Japan's benchmark stock index, the Nikkei, surged to a fresh six-year high today. The benchmark index is likely to register a rise of over 55% to record its biggest annual gain since 1972.

  • Stock markets likely to continue bull-run this week, say Experts. Sensex has gained 9% this year and is poised for its second annual gain as FIIs pumped in almost $20 bn in markets this year. Shrugging off the impact of tapering of the US stimulus, FIIs continue to be attracted to India, they say.

NIFTY 3-Month

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