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Market Report

Wednesday, 06-Jan-2016

NSE

  • The S&P BSE Sensex slid 174.01 points, or -0.68 per cent, to end the day at 25,406.33 today. Broader market barometer Nifty50, too, ended weak, slipping 43.65 points, or -0.56 per cent, at 7,740.00 today. ITC and ICICI Bank were the top losers on the BSE benchmark.

  • The domestic equity market tumbled today after fresh weakness in crude oil prices and weak services PMI print from China raised investor concerns over the health of the global economy. Benchmark share indices ended at their lowest closing level in three weeks on global growth concerns while the ongoing geopolitical tensions in the Middle-East also dampened sentiment.

  • Globally, European shares, tracking similar trends seen in Asian markets, were trading lower weighed down by commodity stocks after the devaluation of the Chinese yuan raised growth concerns in the world's second largest economy while talk of a nuclear test in North Korea also weighed on investor sentiment.

  • It is slightly tricky right now, given the fact that we made a fresh low in this decline. But we are in the support zone for the Nifty50 between 7,710 and 7,750, said Mitesh Thacker.

NIFTY 3-Month

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