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Market Report

Thursday, 30-Apr-2015

NSE

  • The BSE Sensex ended the day at 27,011.31 down 214.62 points or -0.79 per cent. The Nifty closed at 8,181.50 today, down 58.25 points or -0.71 per cent. The 50-stock index hit a high of 8,229.40 and a low of 8,144.75 in intraday trade today. The 30-stock Sensex ended the day above the crucial level of 27,000, while the broader 50-share Nifty held on to 8,150; even though it slipped below 8,150 in intraday trade.

  • Benchmark indices ended lower for the second straight day, amid weak global cues, on losses in FMCG, IT, select financials and auto stocks as investors remained risk-averse in view of the expiry of April series of derivatives contracts. Worries over government's combative stance on capital gains tax, delay in passage of key reform-centric legislative proposals, weak Q4 corporate earnings and gloomy monsoon forecast which is likely to further dent rural demand kept the risk-appetite under check.

  • On a monthly basis, The S&P BSE Sensex plunged as much as 946 points, or -3.3 per cent, in the month of April to post its second consecutive monthly drop. Investor wealth on BSE-listed firms, measured by market capitalisation, slipped by Rs 1.78 lakh crore.

  • Continued selling by foreign institutional investors (FIIs) amid tax concerns has cost India the most favoured emerging market (EM) tag in April. Foreign flows into Indian stocks so far this month are $1.8 billion, much lower as compared to peers South Korea ($3.9 bn), Taiwan ($3.4 bn) and Brazil ($2.3 bn), show data from Bloomberg. Today, foreign investors were net sellers for a huge Rs 3157.61 crore. They have been net sellers for the last 7 sessions at a stretch. See our 'Market Statistics' page.

  • Nifty 'extremely' oversold; all eyes on Bank Nifty now, says Mitesh Thacker. The Bank Nifty jumped in the last hour of trade. My sense is that in case Bank Nifty can show momentum in the next coming few days, then there could be some kind of stronger short coverings happening over here. The level to watch on the Nifty would be around 8300 to 8310, which is where the last couple of bounce backs have ended. We might actually get a 120-point kind of pullback, but if 8300 is being crossed, it might be a slightly more sustainable and upside extending kind of move, he says.

  • Our markets are shut on Friday on account of May Day/Maharashtra Day.

NIFTY 3-Month

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