IntradayTrade dot Net dot IN
Market Report

Tuesday, 26-May-2015

NSE

  • The 30-stock benchmark Sensex ended the day at 27,531.41; down 112.47 points or -0.41 per cent. The broader 50-share Nifty ended at 8,339.35; down 30.90 points or -0.37 per cent. In intraday, the Nifty touched a high of 8378.90 and a low of 8320.05 in again another one-way 60-odd points down direction.

  • This was the second consecutive day of fall on Dalal Street. The absence of fresh triggers, weak quarterly earnings from India Inc, lingering Greece fiscal woes and the impending derivatives expiry seem to have dampened sentiments on Dalal Street. Traders continued to monitor developments in Greece after its government said it intends to make good on its debt obligations but needs aid urgently to be able to do so.

  • The Rupee rolled on with its losing streak for a second straight day and hit day's low of 63.98 versus the US dollar, down 40 paise.

  • Meanwhile, the Modi-led NDA govt has completed one year in office today, May 26, 2015. According to a Bloomberg report, the Sensex has rallied 13% in the past year, compared with a 0.7% retreat for the MSCI Emerging Markets Index.

  • Globally, Asian markets ended mixed in the absence of fresh cues from the global front. The Nikkei ended 0.1% higher and the Shanghai Composite gained 2%. The European shares reversed initial gains as fears lingered about the Greek debt situation, with the CAC, FTSE and DAX shedding around 0.5% each.

  • Nifty to stay in 8,300-8,400 at least till F&O expiry, says Sandeep Wagle. Over the next few weeks, we can see the 50-pack index trading in 8,200-8,500 range. One can expect a lot of stock-specific moves as well. One would be unable to figure out whether it is bullish or bearish trend. If the index comes near 8,200, it will give traders buying opportunities. On the flip side, levels around 8,500 would offer Nifty selling opportunities. Therefore, one has to be stock-specific and play within this range, he says.

NIFTY 3-Month

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