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Market Report

Tuesday, 07-Jan-2014

NSE

  • Sensex, the Bombay Stock Exchange 30-share gauge, after opening on a better note, rose to touch a high of 20,890.48 points. However, emergence of profit-taking shaved off gains and the index closed at 20,693.24 points, logging a fall of 94.06 points, or -0.45 per cent. This is its lowest closing since 20,612.14 on December 17, 2013. The barometer has lost over 477 points in five sessions.

  • On the similar lines, the 50-share NSE index Nifty also moved down by 29.20 points, or -0.47 per cent, to close at 6,162.25 today, after touching the day's high of 6,221.50 on a bout of late selling in bluechips including Infosys, RIL and Tata Steel.

  • Markets closed in the negative territory for the fifth consecutive day as FIIs have turned net sellers in cash segment and index futures. This comes in the wake of concerns of economic recovery amid weak economic data and emerging political uncertainties. Brokers said trading sentiment remained subdued for the major part of the session as cautious participants indulged in trimming their positions ahead of quarterly earnings season, beginning later this week.

  • The rupee continues to trade marginally weaker at 62.37/38 versus its close of 62.31/32 on Monday, with weakness in the domestic share market hurting.

  • Mixed global cues also affected domestic sentiment. Asian shares fell to a near four-month low on Tuesday, though the dollar rebounded after overnight weakness on disappointing US services sector data that raised concerns about stuttering growth in the world's largest economy. European stocks held steady near five and a half year highs today. And today evening, US stocks rose, putting the S&P 500 on track for its first positive session of 2014 as equities rebounded following a decline.

  • The next key trigger for markets is the December inflation data expected next week, which will shed some light about the RBI's monetary policy review on January 28.

NIFTY 3-Month

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