IntradayTrade dot Net dot IN
Market Report

Friday, 15-Jan-2016


  • The 30-share barometer Sensex closed at 24,455.04, down 317.93 points or -1.28 per cent. For the week, the index was down -2.06 per cent. The Nifty50 fell 99.00 points, or -1.31 per cent, to settle at 7,437.80 in yet another day of sell-off to end at their 19-month closing low. The NSE barometer shed -2.15 per cent for the week.

  • The benchmark equity indices tumbled over a per cent today to settle the week on a poor note, thanks to less-than-expected quarterly numbers and big selloff in markets globally. European shares were down up to 1 per cent. Earlier, Asian shares had settled up to -3.5 per cent down. Concerns over the Chinese economy and tensions in West Asia continued to put a pressure on crude prices, which dropped below $30 a barrel during the day.

  • Adding to the woes were weak December quarter results by Hindustan Unilever. The FMCG company's profit slumped -22 per cent, missing analysts' estimates, as weak demand in rural India continued to hurt sales.

  • Expect market to have higher weekly close next week, says Sandip Sabharwal. In the last two days, the market seemed to be stabilising. As the market has fallen off, it seems to be in a phase where capitulation is happening. From the results picture, there is no pessimism per se. But it is more due to the overall global picture, which the market is taking up. I would have bet that markets would close higher next week, he says.

  • Don't expect Nifty50 rising beyond 7,500; sell on rise, says Sandeep Wagle. In the last five days, the 7,500 level was being held on to. At some point, there were hopes that we may even go beyond 7,600 on the higher side. But that has not happened. We have closed the week near the lowest point of the range. That said, we have not broken down, but we are on the verge of it. Come Monday, we may see a bounceback. But I do not see that bounceback extending beyond 7,480-7,500, he says.

NIFTY 3-Month

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