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Market Report

Monday, 20-July-2015

NSE

  • The S&P BSE Sensex ended the day down 43.19 points, or -0.15 per cent to close at 28,420.12 today. The 50-share Nifty closed the session down 6.40 points, or -0.07 per cent to close at 8,603.45 today. The indexes made a smart recovery in the afternoon session led by gains in index heavyweights.

  • Benchmark shares indices ended flat-to-marginally lower on profit taking after sharp gains which gave a three-month closing high last week, as investors turned cautious ahead of the monsoon session of parliament which starts tomorrow with focus on key bills including GST and land acquisition bill. Meanwhile, investors will be keenly awaiting first quarter earnings from IT major Infosys tomorrow.

  • The government, despite fierce opposition, has not given up on making it easier to acquire land needed to kick-start hundreds of billions of dollars in stalled projects, but after failing to win support in Parliament may ask states to pass their own laws. Foreign investors, key behind Indian stocks hitting record high in March, are most concerned about the fate of tax and land acquisition reforms in the upcoming session of Parliament. Unless there is clarity on reform proposals, investors are not keen to pump in new money, say experts.

NIFTY 3-Month

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