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Market Report

Monday, 27-Oct-2014

NSE

  • Sensex, the 30-share index, ended at 26,752.90 today, down 98.15 points or -0.37 per cent. It touched a high of 26,994.96 and a low of 26,726.84 in trade today. The Nifty closed at 7,991.70 today, down 22.85 points or -0.29 per cent. It touched a high of 8,064.40 and a low of 7,985.65 in trade today.

  • Our markets ended its 5-day winning streak as traders booked profits after the benchmarks moved to higher end of trading range. Markets were weighed down by profit taking in major Hindustan Unilever amid sequential drop in volume growth and subdued demand outlook in the near term.

  • Most of the Asian markets, including India, were down today, as investors await the outcome of a two-day US Federal Reserve policy meeting on Tuesday and Wednesday this week. The Federal Open Markets Committee (FOMC) is widely expected to wrap up the Fed's long-running bond purchasing program, known as quantitative easing or QE, this month. Since last December, the US Central Bank has been gradually scaling back its monthly bond purchases, which now stand at $15 billion per month. If the US Fed indicates hiking rates sooner than expected, then it may trigger some bit of sell-off in emerging markets, including India, and may cap further gains, say experts. However, the broader trend still remains on the upside.

  • Expect bull market to last at least for next two decades, says Rakesh Jhunjhunwala. Of course there will be serious corrections in between, but this is a market, as I have seen from 1987, which is still continuing. People are underestimating India, he says.

NIFTY 3-Month

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