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Market Report

Thursday, 19-June-2014

NSE

  • The Sensex fell back to end down 44.45 points, or -0.18 per cent, at 25,201.80 today after rising nearly 180 points in early trade on firming trend overseas on Federal Reserve's upbeat outlook on the US economy. Intra-day, it swung in a 350-point range when it touched a high of 25,425.85 but fell to a week's low of 25,069.55. The 30-share Sensex had lost 274.94 points in the previous session on rising crude import costs and weak rupee.

  • The broad-based NSE 50-issue Nifty, after rising to 7,606.45 at the outset, succumbed to selling pressure and ended 17.50 points or -0.23 per cent, lower at 7,540.70 today dragged down by oil and gas shares, amid fears that growing unrest in Iraq could choke crude oil supplies. India's concern for crude oil rose amid media reports of attacks on NATO fuel trucks on the Afghanistan-Pakistan border.

  • Brokers said the market remained volatile as investors and foreign funds were adopting a cautious approach, amid concerns that rising global crude prices will fuel inflation and raise import bill and hurt country's economy growth. Oil prices rose in afternoon Asian trade after Iraq's government appealed for the US to carry out air strikes on jihadists who on Wednesday seized another oil refinery. A higher opening of the European market, helped select stocks to recover from day's low levels, they added.

  • In a move to bring retail investors back into the market, market regulator Sebi on Thursday approved proposal for hiking public holding in all PSUs to 25 per cent within three years. The move is expected to help the government raise over Rs 60,000 crore through sale of excess shares in 38 state-run firms, say experts. This is expected to be a win-win situation for everybody involved.

NIFTY 3-Month

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