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Market Report

Thursday, 29-Oct-2015

NSE

  • The S&P BSE Sensex lost 201.62 points, or -0.75 per cent, to close the day at 26,838.14 while the 50-stock barometer Nifty50 shed 59.45 points, or -0.73 per cent, to the end at 8,111.75 today. BHEL and Axis Bank were the top losers on the BSE benchmark, ending 4.45 and 2.81 per cent lower, respectively.

  • Markets finished lower for the fourth straight session to trade near two-week lows, following the expiry of October derivative contracts with bluechips taking a beating after US Federal Reserve rekindled hopes of an interest rate hike in the month of December.

  • The Auto stocks picked up some significant action this expiry, said Kunal Bothra of LKP Securities. I believe if the strength persists in them then we could see a lot of stocks which were in a downtrend since last one year picking up pace again. IT and Pharma are continuing to be the defensives and till the time the market remains in a correction phase, we could see some stock specific positive price action in the same, he added.

  • Markets to trade in range till Bihar election results, says Sudip Bandhopadhyay. Over the next few days, market will be tentative. The big event will either be on fifth when the exit polls come out, or on eight when the election results are out. This will be the deciding factor for the markets to move one way or the other. Till then, I do not see much conviction either on the upside or on the downside, he adds.

  • I think until the first week of November, we will play out the results season, and thereafter the market will find some stability, said Deven Choksey.

NIFTY 3-Month

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