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Market Report

Monday, 29-Sept-2014

NSE

  • The BSE Sensex the 30-share index ended at 26,597.11 today, down 29.21 points or -0.11 per cent. It touched a high of 26,715.77 and a low of 26,518.01 in trade today. The Nifty closed at 7,958.90, down 9.95 points or -0.12 per cent, on a flat-to-negative note as the Bulls lacked charge after a sharp rise in previous session. It touched a high of 7,991.75 and a low of 7,934.70 in trade today.

  • The market breadth was however positive on the NSE with 763 gainers against 344 losers. Buying action was seen in stocks from broader markets which were beaten down recently.

  • Although Nifty did breach the 50 Day EMA in intraday trade, but it respected the support of 7850-7840 towards the end of the trade. The index is still 1.88% down on a weekly basis. This week will be critical for Indian markets considering the fact that we are trading near important resistance levels. S&P outlook upgrade provided some bit of respite but analysts still feel that the bias is on the downside till the time Nifty trades below 8100 levels.

  • In this week, the Reserve Bank of India's (RBI) monetary policy stance at its fourth bi-monthly monetary policy review on Tuesday, 30 September 2014, could provide clues on direction of interest rates. The HSBC India Manufacturing PMI for September is due on Wednesday, 1 October 2014.

NIFTY 3-Month

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