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Market Report

Wednesday, 30-Sept-2015


  • The S&P BSE Sensex closed the day with a gain of 376.17 points, or +1.46 per cent, at 26,154.83 while the broader market barometer Nifty50 ended 105.60 points, or +1.35 per cent, higher at 7,948.90 today.

  • The domestic equity market rallied smartly for the second consecutive session today on the back of RBI governor Raghuram Rajan's surprise 50 basis points repo rate cut and on cues from smart gains seen in Asian and European markets. Market experts said the rate cut is definitely a shot in the arm for the Indian market, but to say that the momentum will continue might not be right in view of what is happening in global markets.

  • The strength in the local equities aided the Indian currency as it firmed up against the US dollar. At closing, the Indian rupee was quoting at 65.72, appreciating by 23 paise. However, Foreign Institutional Investors (FIIs) were net buyers today after heavy selling in the last few days. In fact, today was the 4th day in the entire month where FIIs have been net buyers in our equity market. See our 'Market Statistics' page.

  • Nifty may soon revisit 8,050 on global rally, says Ashwani Gujral. The way the Nifty is moving, it is anticipating some sort of bottom getting created, at least an intermediate bottom, on a rally in global markets. So if you are long from here, there is a good chance that 8,050 can get crossed. But you will not have global markets fall and India go up, he warns.

  • Nifty may turn rangebound; 8,050 holds the key, says Mitesh Thacker. We expect Nifty to stay rangebound. I am still not sure whether the index will get breakout above 8,050. Any stability above 8,050 in the short to medium term will suggest that we are now ready to sustain some kind of uptrend. For the time being, the index remains in a range and we are stock-specific, he says.

NIFTY 3-Month

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