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Market Report

Friday, 25-Apr-2014


  • The BSE Sensex finally ended the day 188.47 points lower or -0.82 per cent at 22,688.07 today. It hit a low of 22656.64 and a lifetime high of 22939.31 in trade today. Tracking the momentum, the 50-share Nifty index closed 58.05 points lower or -0.85 per cent at 6782.75 today. It hit a low of 6772.85 and a high of 6869.85 in trade today.

  • The real action was seen in the small and midcap segment, even though benchmark indices continued to reel under pressure. Even though the S&P BSE Sensex ended on a weak note today, but as many as 184 stocks rose to their fresh 52-week high on the Bombay Stock Exchange.

  • Our markets failed to hold on to early gains after hitting all-time high and the Sensex fell nearly 250 points from day's high in absence of supportive cue from global peers. The Nifty has gone down below the psychological level of 6800 today. But within all this, FII investment has continued to come into our markets. See our 'Market Statistics' page.

  • The rupee is trading higher at 60.71 compared to its previous close of 61.07 shrugging off weakness in the equity markets. However, the rupee could weaken later on account of month-end dollar demand from oil importers.

  • Globally, Asian markets remained subdued for most part of the trading session today as emerging crisis in Ukraine dampened investor sentiment. This also impacted European shares since early trades with all the major indices in the continent trading with losses.

  • My belief is that we have kind of given strong momentum breakdown on the intraday chart so while that may not lead to strong correction or big decline, but the force get pass 6850-6860 is missing and the markets are more likely to remain choppy, said Mitesh Thacker. You should wait for declines to happen. In this choppiness, you will see stocks also correct a bit, he added.

  • The breakout that we thought had happened above 6850 has failed and that should lead the market back towards the lower end of the range, which is closer to 6650, says Ashwani Gujral. Overall we should have another 100-120 points on the downside and that downswing has probably begun and chances are on Monday itself we will see continuation, he adds.

  • According to a Bank of America Merrill Lynch report entitled 'El Nino: Met sees sub-normal rains,' the disruptive weather phenomenon El Nino could shave as much as 75 basis points off the country's economic output as a hit on agriculture could cause the central bank to delay cutting interest rates. Inflationary pressures could cause the Reserve Bank of India to keep interest rates high, affecting economic growth, says the report.

NIFTY 3-Month

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