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Market Report

Thursday, 25-Sept-2014

NSE

  • Sensex, the 30-share index closed at 26,468.36 today, down 276.33 points or -1.03 per cent. It touched a high of 26,814.20 and a low of 26,349.55 in intraday trade. The Nifty ended at 7,911.85 today, down 90.55 points or -1.13 per cent. It touched a high of 8,019.30 and a low of 7,877.35 in intraday trade today.

  • Nifty September F&O series ended lower after seven consecutive positive series with Metal Index falling the most. Tracking the momentum, the 50-share Nifty index slipped below its crucial psychological support level of 7900, but managed to claw back towards the fag end of the day. The fall in the index was led by losses in power, realty, oil & gas and banking stocks. 'Make in India' campaign launched by Prime Minister Narendra Modi failed to cheer markets.

  • The Indian capital markets' turnover today rose to record high level of about Rs 8.2 lakh crore, amid monthly expiry of derivative contracts. BSE recorded total daily turnover of Rs 2,93,526.31 crore, while that at NSE rose to Rs 5,32,612 crore -- taking the combined total for the entire Indian capital markets to Rs 8,26,138.31 crore. The National Stock Exchange (NSE) said its total futures and options (F&O) turnover scaled a record high of Rs 5,32,612 crore today, surpassing the previous high of Rs 441,534.45 crore that it had touched on July 10, 2014. However, in the equity market, the BSE benchmark Sensex as well as NSE's Nifty closed with sharp losses.

  • Indian shares will jump to new record highs over the next year and beyond as a brighter economic outlook will attract foreign investment even if the US Federal Reserve tightens policy, a Reuters poll predicted. Foreign investors pumped over 762 billion rupees ($12.5 billion) into Indian shares between March and August, nearly six times what they invested during the same period last year. However, foreign investors have been net sellers in 8 of the last 9 sessions, including today. FII and FPI participation was also almost double today. See our 'Market Statistics' page.

  • The index is making a Doji candle on Monthly chart. After the run up of the last seven months, if it doesn't settle above 8,000 and sustains below 7,950 levels, then this positive rally may end. We may see lower levels of 7,840 & 7,700, said Chandan Taparia of Anand Rathi. October is a month with less trading sessions. So the movement would be volatile with more of gap up - gap downs, caution analysts.

  • Markets are weak; This is not the time to bottom fish, says Ambareesh Baliga. However, when the overall market looks weak, it will be a while before people really start to buy the stock. I do not know whether this is a bottom or it could fall another possibly 15-20 per cent more from here. As of now, unless the Nifty really breaks 7850 levels, we can still have a chance for a bounce back. But in case it breaks that, possibly you could see a much sharper cut, which can actually take it down to levels of 7400-7500. But then the first stop is 7850. We need to see whether it really breaks that decisively or not, he says.

NIFTY 3-Month

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