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Market Report

Tuesday, 23-June-2015


  • The 30-share Sensex ended the session at 27,804.37 today, up by 74.16 points or +0.27%. The 50-share Nifty inched closer to 8,400 levels after hitting an intra-day high of 8,398.45, finishing at 8,381.55 today, up by 28.45 points or +0.34%. It touched a low of 8,334.95 in trade today. The market is seeing its longest winning streak in five months.

  • Markets maintained their bullish trend for the eighth consecutive session as sentiment remained strong after a better-than-forecasted monsoon reignited the optimism among market participants that a rate cut by the RBI may be a possibility. Besides, fresh capital inflows by foreign funds on the domestic bourses and a firming trend in global markets on hopes for a Greek bailout deal, boosted sentiments in the global markets.

  • Globally, most Asian markets logged healthy gains. Nikkei ended the day at 20,809, up +1.87 per cent. Chinese stocks made a smart rebound after falling as much as -4 per cent in trade. The mainland China's benchmark Shanghai Composite recovered losses to end the day at 4,576.49, up +2.19 per cent.

  • More steam left in Nifty; index may touch 8,500, says Ashwani Gujral. I believe that Nifty still has about 100 points to gain in the ongoing upswing. Post the gains, it is possible that the index may retreat a couple of 100 points to 8,250-8,300. Possibly you will first test 8,450-8,500 and then some sort of a cool off may happen. That may happen even if some good news like Greek deal happens. The momentum we are seeing suggests that there could be some correction, he adds.

NIFTY 3-Month

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