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Market Report

Tuesday, 14-Jan-2014

NSE

  • The 30-share index, which had gained 420.84 points in previous two trading sessions, fell by 101.33 points, or -0.48 per cent to close at 21,032.88 today. The 50-share National Stock Exchange index Nifty declined by 30.90 points, or -0.49 per cent, to end at 6,241.85 after investors booked profits in recent gainers including IT, metal and realty shares, amid a weak trend in the global markets.

  • Brokers said besides profit-booking after recent gains, a weak trend in the Asian region and a lower opening in Europe following overnight losses in the US market, too triggered selling activity. Meanwhile, retail inflation slowed to three-month low of 9.87 per cent in December, supporting hopes the RBI will keep interest rates stable in its policy meet later this month.

  • Nifty futures, which was moving in a sluggish mode since the starting of the series, is now trading with high volatility after the Q3 earnings season started. Looking at the option concentration data for January series, maximum call OI is accumulated at 6300 strike prices whereas maximum put OI is shifted at 6200 strike price, suggesting that traders have shifted their downside base to 6200 zone and it should act as immediate support area.

  • The markets may be reacting to a whole host of factors, but it's only on cues from America that it seems to be making sharp moves, say observers. This was evident in yesterday's rally, with the Sensex shutting shop with a 376-point gain as the US released a weaker than expected jobs data, which infused confidence among market players that the $85 billion stimulus is here to stay. The opposite happened today.

  • Now, traders will be eyeing December wholesale price inflation, seen at 7% due on Wednesday, ahead of the RBI's rate review on January 28.

NIFTY 3-Month

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