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Market Report

Wednesday, 13-Apr-2016

NSE

  • The S&P BSE Sensex ended at 25,326.75 today, up 481.16 points or +1.91 per cent. The NSE's Nifty50 index gained 141.50 points, or +1.84 per cent, to close at 7,850.45 today, maintaining the winning streak for the fourth session.

  • The S&P BSE Sensex opened trading 300 points higher today riding three big positives; a Met department forecast of a good monsoon, a smart bounce in industrial output in February and a big dip in March retail inflation to hit the lowest since September 2015. A strong bounce in the US equity benchmarks in overnight trading, firm Asian markets and a spike in crude prices on reports of an Russia-Saudi Arabia agreement to freeze output, also helped matters.

  • Throughout the day, the Sensex was on a high before it closed proceedings with a gain of 481 points. In the last one hour of trade, the index had gone up by 526 points at one point before closing lower. The Nifty50 had zipped past the crucial psychological mark of 7,850 before closing bang on the mark.

  • We have had a good rally and despite having a long weekend ahead, we are getting past the previous highs of 7,760-7,780 levels on Nifty50. I would be comfortable holding on to long positions, said Mitesh Thacker.

  • Positive sentiment in the market will continue in the coming sessions spurred by FII buying. We expect Nifty to hold above 7,800 for a few sessions. Short covering will then take the index to 8,000-8,050 levels, said Nirdosh Gaur.

  • The domestic equity market will remain closed on Thursday on account of Ambedkar Jayanti and on Friday for Ram Navami.

NIFTY 3-Month

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