IntradayTrade dot Net dot IN
Market Report

Thursday, 03-Dec-2015

NSE

  • The S&P BSE Sensex traded weak through the day to close at 25886.62, down 231.23 points, or -0.89 per cent. The 50-stock barometer Nifty50 ended lower by 67.20 points, or -0.85 per cent, to close at 7,864.15 today. ONGC and Lupin were the top laggards on the BSE benchmark, after a hawkish commentary from the US Fed caused the benchmark equity indices to put up a lacklustre show today.

  • US Federal Reserve Chairperson Janet Yellen suggested on Wednesday that the Fed was all but certain to take a bold step at its next rate-setting meet on December 15-16, prompting foreign investors go for a fresh bout of selloff. FIIs were net sellers in the domestic equity market to the tune of $1.2 billion in November.

  • Indian equities today recorded their biggest single-day percentage drop since November 18, 2015. To further dampen sentiment, survey released by Nikkei/Markit Services showed that India's service sector growth stagnated in the month of November. The seasonally adjusted Nikkei Business Activity Index showed that the activity fell to 50.1 in November from 53.2 in October, that was its eight month high.

  • The S&P BSE Sensex might have corrected by over 4,000 points from its record high of 30,000 hit in March, but the bull run remains intact and investors should not lose faith in Indian equities, said Amar Ambani of IIFL. Calendar 2016 holds great promises, and it can very well be a defining year for the next stage of a big bull run, he said.

  • We may spend some time in the 7,860-7,920 band, perhaps for a day or two, and the crack may come on Monday, said Sandeep Wagle. Till the time we break out of 7,950 on the upside, it is better to be on the short side on Nifty50, he says.

NIFTY 3-Month

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