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Market Report

Friday, 07-Feb-2014

NSE

  • The Sensex, which had gained 101 points in the previous three days, rose further by 65.82 points, or +0.32 per cent, to end at 20,376.56 today. Intra-day, the barometer touched a low of 20,282.30 and a high of 20,450.51. Today's close was the highest since 20,513.85 on January 31.

  • The 50-scrip NSE index Nifty rose by 26.90 points, or +0.45 per cent, to end at 6,063.20 -- the third day of rise. Intra-day, it touched a low of 6,030.90. Today was the highest close for Nifty since ending on 6,089.50 on January 31.

  • The results of US jobs data and any surprises on GDP growth estimate by the government today evening would be key triggers for the market going forward. Markets suffered a sharp fall today as investors turned cautious ahead of the GDP data for the current fiscal to be released later today. The government is likely to lower its estimate of 5% growth forecast for the financial year 2013-14, because of slower-than-expected recovery in industrial growth.

  • Global cues were positive as the US markets had surged yesterday, as Wall Street embraced a drop in applications for jobless benefits as indicative of an improving US labour market and economy. Japan's Nikkei average jumped 2.12%, its biggest daily percentage rise since January 29, as investor sentiment brightened on hopes for an upbeat US jobs report later in the day.

  • FIIs turning sellers in markets is not encouraging, say experts. FIIs have turned net sellers in cash market and since the beginning of this expiry have sold more than Rs 3,000 crore and, in index futures, they have slowly started shorting, which is not encouraging, they add.

  • In a development after market hours today, India's economic growth rate in the current financial year has been estimated at 4.9 per cent, a faster pace than in the previous year. The growth in GDP during 2013-14 is estimated at 4.9 per cent as compared to the growth rate of 4.5 per cent in 2012-13, according to advanced estimates released today by the Central Statistics Office (CSO).

NIFTY 3-Month

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