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Market Report

Thursday, 09-Jan-2014

NSE

  • The BSE Sensex, which yesterday snapped a five-day losing run to mark its first positive close in 2014, ended again with a loss of 16.01 points, or -0.08 per cent, to close at 20,713.37 today. Trading in a narrow 125-point zone, the index rose to a high of 20,778.13 and a low of 20,652.69 during the session. Similarly, the 50-share NSE index Nifty fell 6.25 points, or -0.10 per cent, to end at 6,168.35 today amid a weak trend in Asian markets. The Nifty had dropped to 6,148 in intra-day trades.

  • All major Asian indices, including Nikkei, Hang Seng and KOSPI, closed in the red. However, European benchmarks were trading in the green in afternoon trade. European Central Bank President Mario Draghi today convenes the first rate-setting meeting of 2014 in Frankfurt. Additionally, a US initial jobless claims report is expected to guide global markets.

  • The rupee hit a one-week high of 61.96 versus its close of 62.07/08 on Wednesday as custodian banks sold the greenback. At this writing, the pair is trading at 62.0200.

  • Nifty seen in a tight 6000-6300 range, by experts. Although the markets have been resilient in the face of QE tapering announcement, the upcoming Lok Sabha polls continue to be a major overhang, they say.

  • FIIs sell shares, futures again. Foreign investors sold cash shares worth Rs 567 crore on Tuesday, totalling sales of Rs 839 crore since Thursday, three days in a row, regulatory and exchange data show. Wednesday was a small plus, and today again was marginally on the sell side. Is the trend reversing? Asks analysts.

NIFTY 3-Month

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