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Market Report

Tuesday, 21-Jan-2014

NSE

  • Sensex, the 30-share index, which had gained 142 points in the previous session, advanced by 46.07 points, or +0.22 per cent, to close at 21,251.12 points. It touched a day's high of 21,302.52 points. The broad-based National Stock Exchange index Nifty rose by 9.85 points, or +0.16 per cent, to close at 6,313.80 points today on sustained buying by funds in bluechips led by banks ahead of the RBI monetary policy meet amid a firming global trend.

  • Brokers said market sentiment improved after government decided to sell stake in Hindustan Zinc which might narrow down budget deficit. They said the upsurge was backed by banking and interest rate sensitive stocks on expectations that RBI may keep its policy rates unchanged in its review meeting on January 28 as headline inflation has receded.

  • A firming trend in global stock markets also influenced the market sentiment to some extent, they added. The Nikkei average gained 1% on Tuesday, recouping most of its losses suffered over the past three trading days. China shares rebounded from a six-month low today, lifting Hong Kong markets with it. European shares hit fresh 5-1/2 year highs today.

  • India is likely to clock an economic growth rate of 4.6 per cent this financial year and the expansion may improve to 5.4 per cent in 2014-15, the International Monetary Fund said today. The growth rate in 2015-16 at factor prices is likely to be 6.4 per cent, it added. India's economy slowed to a decade low of 5 per cent in the last fiscal due to global slowdown and domestic factors, like high interest rates.

  • French bank BNP Paribas' wealth management arm today said it expects the economy to expand by 4.3 per cent this fiscal and the growth to pick up and touch 5.1 per cent in FY15. GDP growth stood at 4.6 per cent for the first half of the fiscal but the government still hopes it to touch 5 per cent for the entire fiscal due to an expected revival in the second half.

NIFTY 3-Month

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