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Market Report

Wednesday, 17-June-2015

NSE

  • The 30-share Sensex resumed on a positive note at 26,815.41 and climbed to intra-day high of 26,983.48 as investors indulged in cornering recently beaten-down stocks. However, it shed some gains on emergence of profit-booking towards the fag-end as participants turned cautious ahead of outcome of the US Federal meet later in the day and settled at 26,832.66, up 146.15 points or +0.55 per cent. In four sessions, the index has gained 461.68 points.

  • The broader 50-issue NSE Nifty breached the 8,100-mark to hit session's high of 8,136.85. It finally settled at 8,091.55, up by 44.25 points or +0.55 per cent. Markets continued their upward march for the fourth straight session today amid above-normal progress in monsoon. Brokers said sentiments remained upbeat as monsoon rains have been above-normal till now and the country's trade deficit narrowed to a three-month low in May.

  • In addition, CBDT yesterday said the taxmen will not resort to coercive methods to recover dues towards Minimum Alternate Tax (MAT) on capital gains made by FIIs supported the rally, they said. Despite ongoing winning-run, foreign investors have been net sellers on the bourses in the past few sessions. They sold shares worth Rs 521.65 crore yesterday and sold another Rs 940.91 crores today. See our 'Market Statistics' page.

  • Market may head north in coming 2-3 sessions, says Sandeep Wagle. The last action today was a mere correction. I do not think that there will be a crackdown as long as the Wednesday's lows of 8,048-8,050 hold on. Nifty will be on course to test levels anywhere between 8,150 and 8,180. Even at 8,200, some sideways move on the index cannot be ruled out. I do believe that today's retreat is more of a correction, which should be bought into, he adds.

NIFTY 3-Month

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