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Market Report

Wednesday, 26-Mar-2014

NSE

  • The BSE benchmark index Sensex today climbed to all-time high of 22,095.30 points by gaining 40.09 points, or +0.18%, on sustained buying by foreign funds in bluechips on improving growth outlook amid a firming global trend. The National Stock Exchange's broad-based index Nifty also closed at record high of 6,601.40 points, up by 11.65 points, or +0.18%, over the last close. Both the indices surged to new record intra-day high levels. The Sensex touched the peak of 22,172.20 points while Nifty rose to 6,627.45 points in intraday trade.

  • After initial surge, markets rolled back to minimise the day's gains on profit booking and investors squaring up their pending positions ahead of monthly settlement in the derivatives segment tomorrow. Brokers said foreign institutional investors remained net buyers on improving economic growth and rupee rising to over seven-month high against the dollar.

  • A firming global trend after the US consumer confidence climbed to a six-year high further supported the uptrend. Asian shares raced to two-week highs today, with investor confidence getting a much-needed boost from upbeat US data and diminishing concerns over the Ukraine/Crimea crisis.

  • The rupee strengthened to its highest level in eight months on Wednesday morning, helped by hopes of continued foreign fund inflows while gains in other Asian currencies also underpinned sentiment.

  • No stopping Nifty! Markets have room to rally further, say experts. The hopes of improving economic environment and hopes of a stable govt are driving the market to new highs and this trend may continue, they say.

NIFTY 3-Month

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