IntradayTrade dot Net dot IN
Market Report

Monday, 31-Aug-2015


  • The S&P BSE Sensex ended day 109.29 points, or -0.41 per cent, down at 26,283.09 today. The benchmark NSE Nifty index closed 30.65 points, or -0.38 per cent, down at 7,971.30 today, after shuttling between 8,043.60 and 7,947.95 in intraday. The Nifty slipped below the 8,000-mark due to selling by funds and retail investors ahead of the release of June quarter GDP data and weakness in domestic currency.

  • The mood on the Street was hurt by concerns about likelihood of a deficient monsoon this year. Investors and policy makers are keeping a close eye on the progress of the monsoon as a strengthening 'El Nino' weather pattern is likely to trim rainfalls in August-September, raising fears of a first drought in six years. Earlier in the day, Skymet, a private weather monitoring agency, cut its June-September monsoon forecast to 90 per cent below normal.

  • Although, investors are still hopeful that upbeat data on the macroeconomic front will give the RBI enough ammunition to cut interest rates at its next policy meeting on September 29, but experts warn of global volatility shooting up in near-term. Meanwhile, there were hopes that the GDP growth data scheduled to be announced later in the day, would offer some relief.

  • Almost all global markets also suffered losses today as investors remained wary of China's economic slowdown coupled with fears of an interest rate hike by the US Fed.

  • After market hours today: The GDP growth slowed to 7 per cent in the June quarter, from 7.5 per cent in the previous quarter, amid deceleration in farm, services and manufacturing sectors. India Inc said today the subdued performance indicates that the cost of capital needs to come down, demanding a rate cut by RBI. We hope that RBI will usher in a deeper cut in policy rates in its September review of the monetary policy, Ficci President Jyotsna Suri stated today.

NIFTY 3-Month

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