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Market Report

Monday, 26-Oct-2015

NSE

  • The S&P BSE Sensex ended the day 108.85 points, or -0.40 per cent, lower at 27,361.96 while the 50-stock barometer Nifty50 closed 34.90 points, or -0.42 per cent, down at 8,260.55 today. Coal India and HDFC were the top losers on the Sensex, down -2.4 per cent and -2.1 per cent, respectively.

  • Our markets gave up morning gains after starting on a strong note tracking strong momentum in other Asian markets due to to Friday's surprise rate cut by the Chinese central bank, that came in after our market hours. The initial enthusiasm got wiped out and domestic markets pared gains within first hour of trade and turned negative, as traders decided to stay on the sidelines ahead of the two-day US Federal Reserve meeting that starts on tomorrow.

  • Most traders found the market overbought and moved forward to book profit. Nothing has changed as far as the market outlook is concerned, said Deven Choksey. It is slightly overbought. So obviously some corrections have happened, he added.

  • At this moment the market is looking fairly sideways and sideways to down, but no major declines are expected, said Ashwani Gujral.

NIFTY 3-Month

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