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Market Report

Monday, 05-May-2014


  • After a lower start, Sensex, the 30-share index bounced back to touch intra-day high of 22,592.03 before settling at 22,445.12 today, a moderate rise of 41.23 points, or +0.18 per cent. The index touched the session's low of 22,354.45. The gauge had lost 472.65 points in the past five sessions. Similarly, the broad-based Nifty of the National Stock Exchange ended 4.55 points, or +0.07 per cent higher at 6,699.35 today. It touched a high of 6,741.05 and a low of 6,680.45 in intraday.

  • Markets ended flat, amid a volatile trading session, after investors turned cautious and booked profits at higher levels after reports suggested that the recent rally seems to have run ahead of fundamentals. The current market rally has been building up on hopes that the BJP-led NDA alliance emerging victorious in the Lok Sabha elections.

  • The rupee slipped from its early highs and was trading lower at 60.17 compared with its previous close of 60.16 on Friday, after domestic equity markets came off their day's high to end flat.

  • Asian markets ended lower after a private survey indicated that China's manufacturing data in April came in lower than expected. Japanese markets were closed for trading today. European markets eased further after investors turned cautious after weak manufacturing data from China while concerns over the crisis in Ukraine also dampened investor sentiment. UK markets were closed today.

  • Let us do some sensible investing and not try to gamble till the election results, says Ashwini Gujral. Chances are that the buying will get exhausted around the election result time and post that you will get a correction when people take profits. There are stocks which are moving higher, but for the moment the indices will remain choppy between 6650 and 6750, and individual stocks is where you do something for the next four days. On the 12th, just cut all your positions and wait on the side and then see on the 16th what you have to do, he says.

NIFTY 3-Month

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