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Market Report

Thursday, 31-Dec-2015

NSE

  • The S&P BSE Sensex ended the day higher by 157.51 points, or 0.61 per cent, at 26,117.54 today. The 50-stock barometer Nifty50 closed at 7,946.35 today, up 50.10 points, or +0.63 per cent. HDFC and GAIL were the top gainers on the BSE benchmark. Markets scaled higher on the last day of December derivatives series due to strength in energy and index heavyweight shares such as HDFC and Infosys.

  • Dalal Street ended calendar 2015 on a cheerful note, as the benchmark indices rallied in late trade. Investors initiated fresh long positions buoyed by expectations of a brighter 2016. The BSE benchmark ended the year with a loss of -4.65 per cent while NSE index Nifty50 shed -3.66 per cent. The S&P BSE Sensex is down about 4,000 points from its record high of 30,024.74 hit in March, but Calendar 2016 promises to be better for Indian investors, say analysts. The year, as most analysts saw it, was one of consolidation for the market as exit by jittery foreign investors and muted earnings slowed down the market.

  • In the overseas market, Asian share markets looked set to end a rough, volatile year on a subdued note today as a renewed slide in oil prices sapped sentiment, a baleful trend that shows every sign of lingering into 2016. European markets were also poised for a sluggish finish to 2015.

  • Breakout beyond 7,960 can take Nifty50 above 8,100, says Mitesh Thacker. I think I would have wanted (expected) the markets to finally give a breakout on the expiry day beyond 7,950-7,960. Perhaps, tomorrow or day after if we get a burst of momentum beyond 7,960, I think then I would take that as a continuation signal and look at targets of 8,050-8,120 on the upside, he adds.

NIFTY 3-Month

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