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Market Report

Thursday, 28-Aug-2014

NSE

  • The NSE Nifty barometer today gained 18.30 points, or +0.23 per cent, to settle at record 7,954.35, breaching its previous peak of 7,936.05 reached yesterday. Intra-day, it touched a high of 7,967.80, just missing the life high of 7,968.25 hit on August 25.

  • Riding high on capital inflows, the benchmark Sensex today rose 77.96 points, or +0.29 per cent, to end at new peak of 26,638.11 and logged the seventh straight month of gains in August as investors cheered steps taken by the Modi government to bring the back the economy on high growth path.

  • The BSE Sensex also hit life high of 26,674.38 during the session today. At closing level, the index surpassed its previous closing peak of 26,560.15 hit yesterday. It extended winning run to sixth day in which it has gained 324 points. The Sensex and the Nifty have gained about 26 per cent this year so far, the most among biggest global indices.

  • Gains were seen in blue chips amid volatility as monthly derivative contracts expired today and partcipants eyed GDP April-June quarter data scheduled for release tomorrow. Domestic markets appeared resilient to fag-end news of rising tension in Ukraine that trimmed gains in Asia and Europe.

  • Foreign institutional investors have been aggressive buyers in Indian equities infusing around Rs 77,684 crore in the past seven months since February and Rs 6,408 crore for this month till August 26, as per regulatory data. However, today FIIs have turned net sellers with very high participation and high volumes. See our 'Market Statistics' page.

  • India has a long way to go, said Navneet Munot, CIO, SBI Mutual Funds. The ingredients for a sustained bull market are very much in place and there is a good amount of visibility that we will at least go back to the long range profit growth of 14-15 per cent. Considering the fact that valuations are reasonable and if India Inc can deliver growth of around 15 per cent per annum, which is not an unreasonable expectation over a long period, the Sensex can hit 1,00,000 in 10 years, he added.

  • The stock market will remain closed tomorrow (29th) on account of Ganesh Chaturthi.

NIFTY 3-Month

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