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Market Report

Monday, 19-Jan-2015

NSE

  • Nifty, the broader NSE index closed 36.90 points higher, or +0.43 per cent higher, at 8550.70 today after earlier touching its highest intraday level since Dec. 5. The benchmark BSE Sensex index ended 140.12 points higher, or up +0.50 per cent, at 28262.01 today, after rising to its highest since Dec. 8.

  • NSE index rose for a third consecutive session today to mark its highest level in nearly 1-1/2 months as Wipro surged on strong earnings while lenders gained on continued optimism the central bank's surprise rate cut last week would revive credit growth.

  • Asian markets ended mixed with Chinese stocks witnessing a sell-off led by brokerages' shares after the China's securities regulator last week imposed a ban on three brokerages from opening new margin trading accounts for clients for three months. However, stocks in Japan ended firm and the benchmark Nikkei gained 0.9% while Straits Times ended 0.2% higher.

  • See Sensex at 30,000 in March 2015 and at 36,000 in March 2016, says Saurabh Mukherjea of Ambit Capital. As has been the case over the last four-five years, global events will provide a mixed momentum to India. We have been very positive on India for the last two years. We still continue to be positive on the Indian markets going forward. Our March 2015 Sensex target is 30,000. The March 2016 target is 36,000. I do not think the global situation will be either helping or hindering India's progress. Our growth will largely hinge on our own policymakers, he says.

  • Nomura sees Sensex at 33,500 by year-end. Macro economic environment in India is expected to improve further and drive the Sensex, says a Nomura report. The Japanese brokerage firm said its bullish stance on the Indian market for this year is based on the view that improvement in India's macro environment over the past year has been "durable" and will improve further.

NIFTY 3-Month

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