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Market Report

Friday, 12-Feb-2016

NSE

  • The S&P BSE Sensex ended the day at 22,986.12 today, up 34.29 points or +0.15 per cent while the Nifty50 closed at 6,980.95 today, up 4.60 points or +0.07 per cent. The 50-share barometer of the NSE, the Nifty50, fell below the 6,900 mark for the first time since May 12, 2014, but ended higher.

  • Domestic equity benchmark Sensex gyrated some 560 points between gains and losses all through the day amid mixed global cues, but ended flat with a slight positive bias. In the process, the benchmark indices logged their biggest weekly drops since July 2009, with the Sensex poorer by -6.62 per cent for the week and Nifty50 down some -6.80 per cent. The Nifty50 is down -24.5 per cent from the an all-time high of 9,119 points.

  • Dalal Street went through its most turbulent week in nearly seven years, with benchmark indices crashing about seven per cent and several bluechip stocks plummeting even further. The losses were on the back of a massive sell-off by global investors as they turned risk averse because of gloomy outlook for global economy. Foreign investors pulled out over $400 million from stocks during the week, extending their 2016 selling tally to over $2 billion.

  • Analysts saw revival hopes in the market. The Bank Nifty has fared somewhat better compared to the Nifty today, said Dr CK Narayan of Chart Advise. I am actually enthused to buy a 14,500 Bank Nifty call, he said. Given the currency choppiness, this pullback can head towards 7,080-7,100 levels, said Mitesh Thacker. That is the primary target and then we will take it further from there, said Thacker.

  • After market hours today: India's retail inflation marginally inched up to 5.69% in January, from 5.61% in December. This is the fifth consecutive month of rise. Retail food inflation rose 6.85% in January from 6.4% in December.

NIFTY 3-Month

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