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Market Report

Monday, 25-Jan-2016

NSE

  • The S&P BSE Sensex ended the day with gains of 50.29 points, or +0.21 per cent, at 24,485.95 while the 50-share NSE Nifty50 closed at 7,436.15 today, up 13.70 points, or +0.18 per cent. Tata Steel and Sun Pharma were the top gainers on the BSE benchmark.

  • Benchmark share indices trimmed intra-day gains in a day of consolidation after global crude oil prices resumed their downward trajectory. Crude oil prices slumping about -3 per cent after sharp gains on Friday. Our markets were pegged back by weak cues from Europe, while caution ahead of expiry of January derivative contracts capped upside gains.

  • Global cues are improving. Crude oil prices are on the mend. Euro zone seems to be readying for a further stimulus package and China has reassured the world that it would take care of investor sentiment and not devalue the yuan any further. Yet the FIIs have kept selling. Reasons unknown, till now.

  • Data available with depository CDSL showed foreign portfolio investors (FPIs) have sold equities worth Rs 9,963 crore in January. They continuously sold equities in the last sixteen trading sessions till today. Going by the numbers, FII outflows was worst in January since 2008. Further selling by the institutional category can even lead to worst outflows since 2001. Meanwhile, domestic institutional investors (DIIs) have bought equities worth Rs 306.10 crore in January so far.

  • I am not comfortable at the current level of the market, said Sandeep Wagle. But a crack from the current level is unlikely. I think Nifty50 will spend time in a 100-150 points band and some more choppiness can be expected, he says.

NIFTY 3-Month

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