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Market Report

Thursday, 14-Aug-2014

NSE

  • The 30-share Sensex closed at over two-week high of 26,103.23, a gain of 184.28 points, or +0.71 per cent from previous close. The barometer opened higher at 25,948.30 and shot up further to a high of 26,135.00 after WPI-based inflation dipped to a five-month low of 5.19 per cent in July. In the four sessions, the index gained over 774 points and reclaimed the 26,000-mark for the first time since July 30.

  • The NSE 50-share Nifty firmed up by 52.15 points, or +0.67 per cent, to finish at 7,791.70 after touching the day's high of 7,796.70 extending gains for the fourth straight session today, tracking gains in banks, capital goods and oil and gas majors. The Nifty was just -0.6 per cent shy of the record high of 7,840.95 hit on July 25.

  • Brokers said besides encouraging earnings by several blue-chip companies, foreign capital inflows on continued optimism on long term growth prospects of the economy buoyed sentiments.

  • Globally, Asian markets were largely in red with Japan's Nikkei being the only exception. European markets were in green with CAC, DAX and FTSE registering gains when reports last came in.

  • Nifty to maintain 7650-7850 levels for the next few days, says Sandeep Wagle. Today is a much better day than yesterday, though the Nifty was up at the end even yesterday but the confidence was not there. I still look at 7850. Even if it crosses that, it may not sustain there. Broadly, 7650-7850 is the range I look at over the next few days and more, he says.

  • Expect very stock-selective investment regime for next 3-6 months, says Rashesh Shah of Edelweiss Group. There is a sense of optimism. But the hurry to invest, the hurry to buy almost any stock that was going up has gone away and most investors are saying they will study companies' earnings growth, management etc. So it is going to be a slow and steady, very stock-selective investment regime for the next three to six months, he says.

  • Markets are closed on Friday for the Independence Day holiday but traders would be looking forward to newly elected Prime Minister Narendra Modi's speech for clues to his reform plans for the world's largest democracy.

NIFTY 3-Month

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