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Market Report

Monday, 20-Jan-2014


  • Sensex, the 30-share barometer rose by 141.43 points, or +0.67 per cent, to close at 21,205.05 points. The index, which lost 226 points in the last two sessions, touched a low of 21,001.13 points in day trade. The broad-based National Stock Exchange index Nifty rose by 42.30 points, or +0.68 per cent to close at 6,303.95 today on buying in bluechips led by IT stocks after Wipro posted encouraging quarter earnings. It touched the day's low of 6,243.35 in intraday.

  • Brokers said sentiment improved as the third-largest software provider Wipro posted attractive earnings for the third quarter ending December 2013. Weak overseas trends and a fall in index major Reliance Industries, however capped the gains.

  • The rupee was trading weak against the US dollar at Rs 61.60 compared with previous close of Rs 61.54 per dollar.

  • Globally, shares in China eased as investors turned cautious amid liquidity concerns. Shares in Europe opened lower tracking losses of their Asian peers after China's fourth quarter (Oct-Dec) GDP came in marginally lower at 7.7% compared with 7.8% in the previous quarter.

  • Will the market behave like it did in 2004 and 2009, or will it be a damp squib, with both bears and bulls ending the results day on an equal footing? In 2009 and 2004 the stock market saw gap moves of 18% up and 19% down, respectively. With the emergence of AAP after the Delhi election outcome, the dynamics have changed. Experts are now betting on a 15% rally on markets irrespective of the poll outcome, be it a majority government or a hung Parliament.

NIFTY 3-Month

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