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Market Report

Wednesday, 29-July-2015

NSE

  • The S&P BSE Sensex ended the day up 104.20 points, +0.38 per cent, at 27,563.43 ahead of expiry of July futures and options (F&O) contracts on Thursday. The 50-share Nifty index added 38.05 points, or +0.46 per cent, to settle at 8,375.05 today. Stock-specific action was visible as dozens of companies reported their June quarter numbers during the trading session.

  • Markets snapped a 4-day losing streak with the Nifty settling above the crucial level of 8,350 as investors bought stocks at attractive valuations ahead of June F&O Expiry tomorrow. Meanwhile, the gains were limited as participants remained cautious ahead of the outcome of the two-day US Federal Reserve policy meet late Wednesday.

  • There is a distinct lack of direction in our markets. Most analysts on Dalal Street are of the opinion that Indian markets could remain rangebound for some more time, but some are suggesting that more correction is coming and the Nifty could even fall up to 7200 in the near term as the hope of 'economic turnaround' on which this entire bull market was scripted, is slowly fading away. The fact that the market lacks a uniform, unidirectional momentum can be seen in the wild gyrations exhibited in the recent past.

NIFTY 3-Month

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