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Market Report

Friday, 11-Sept-2015

NSE

  • BSE benchmark S&P Sensex ended the day 11.96 points down, or -0.05%, to close at 25,610.21 while the broader 50-share barometer Nifty closed 1.20 points up, or +0.02%, to close at 7,789.30 today. The domestic stock market showed strength early into the session today in line with gains in the US market in overnight trade and mixed signals from its Asian peers, but gave up most of the gains to close flat for the day. So flat that one index closed in the red while the other closed in green.

  • The market remained range-bound throughout the day ahead of crucial July factory output numbers scheduled for release later in the day. Fears over rising deficiency in the June-September monsoon rainfall, which irrigates nearly half of the country's farmlands, hit market sentiment. Brokers said a weak trend in other Asian markets and a lower opening in European markets also influenced sentiment.

  • On a weekly basis, Sensex advanced by 408.31 points or +1.62 per cent, while Nifty rose 134.25 points or +1.75 per cent, halting a four-week losing streak.

  • Markets is losing traction on the downside, says Ashwani Gujral. Nothing significant will happen till Thursday. The show will start after Thursday. We have not made substantially lower lows than 7650 on Nifty, which was a previous low. Also, we have bounced back from the 100-week moving average. We are standing at key long term levels and once the event is out of the way, we will be well positioned for a rally, he says.

  • We're going through quite fragile times. We'll have to see how it evolves from here on. That will depend on the US Fed action, as well as whether there's further negative news from China, said Veronika Pechlaner, European equity fund manager at Asburton.

  • After market hours today: Industrial output (IIP) has grown at 4.2% in July, according to the official data released today. The IIP was at 3.5 per cent in April-July period against 3.6 per cent in the year-ago period, the Central Statistics Office (CSO) said in a release. The main contributors to the growth were manufacturing and capital goods sector. The manufacturing sector, which constitutes over 75 per cent of the index, grew by 4.7 per cent in July 2015 against a contraction of 0.3 per cent in the same month last year.

NIFTY 3-Month

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