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Market Report

Wednesday, 30-Mar-2016

NSE

  • The S&P BSE Sensex closed the day higher by 438.12 points, or +1.76 per cent, at 25,338.58 while the 50-share Nifty50 closed at 7,735.20 today, up 138.20 points, or +1.82 per cent. The broadbased rally saw the broader market indices outperform the equity benchmarks. The BSE midcap and smallcap indices closed higher by +1.81 per cent and +1.87 per cent, respectively.

  • Markets rebounded to end with strong gains amid a rally in global stocks after US Federal Reserve chair Janet Yellen indicated that the central bank would move cautiously in regards with interest rate hike. Also, prospects of an interest rate cut by the RBI at its forthcoming monetary policy review spurted buying across the board.

  • Risk-on sentiments rose on the Street as high-beta and beaten-down stocks made merry in the rally. Positive cues from other Asian and European markets also helped the market.

  • Indian equity markets are likely to see another volatile quarter and given the rich valuations and positioning, the country is likely to underperform during April-June period, says a Morgan Stanley report. According to the global financial services major, the market will be focused on RBI policy and earnings for the fourth quarter of 2015-16, but the key to absolute market moves is still "what happens outside India". It further noted that investors will be watching out for the bankruptcy law and the GST bill in the second half of the budget session that will resume from April 25. The GST bill is expected to be passed in the next four months, it said.

NIFTY 3-Month

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