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Market Report

Wednesday, 19-Aug-2015

NSE

  • Snapping a two-day losing streak, the S&P BSE Sensex rose 100.10 points, or +0.36 per cent, to settle the day at 27931.64 today. The 50-share Nifty barometer closed at 8495.15 today, up 28.60 points, or +0.34 per cent. Export oriented stocks, including healthcare and IT, gained across the exchanges on weakening of the rupee over the past few sessions.

  • Markets finished today's session on a firm note, amid choppy trades, after a rebound in Chinese shares following news that their central bank would infuse more capital and replenish liquidity in the banking system in the aftermath of the yuan devaluation. During the session, Chinese markets cracked over -5 per cent in intraday trade. However, a sharp rebound was seen from the day's lows, with the benchmark Shanghai Composite index ending the day up +1.23 per cent.

  • With the earnings season out of way, investors were looking at global markets for directional cues. The market sentiment was boosted by gains in export-focussed companies after the rupee fell to a near two-year low in early trades, while bullish brokerage calls also helped drugmakers such as Sun Pharmaceutical Industries.

  • Stay stock-specific, pharma IT stocks may do well, says Mitesh Thacker. For me, it remains a very stock-specific market. Pharma and IT sector stocks may possibly do well, given the fact that currency has been weak. Otherwise, one has to wait for Nifty to start getting past 8,530 or below 8,430 to see some kind of directional movement. Even then, the narrow range might lead us to retest of the earlier range of 8,350-8650 on the index, he adds.

  • Buy into mid IT, pharma stocks, build short positions on rate-sensitive counters, says Ashwani Gujral. There is a clear theme in the market -- buy into exporters and sell into rate sensitives or economy-related stocks. Now, rate cuts have possibly been pushed back. So you can continue to buy into pharma and IT names from the midcap space and take some short positions on real estate as well as some midcap private sector banks, he says.

NIFTY 3-Month

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