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Market Report

Thursday, 21-Apr-2016

NSE

  • The 30-share Sensex closed the day just 36.20 points or +0.14 per cent higher at 25,880.38 today, while its 50-share counterpart ended the day at 7,912.05, down 2.70 points or -0.03 per cent. Our market ended so flat today that one index closed ion the red while the other closed green.

  • Like yesterday, the day had started off in a strong note with the S&P BSE Sensex breaching the 26,000 mark in opening trade today. Even the Nifty50 was at kissing distance from the crucial 8,000 mark. However, the market could not sustain the gains and traded flat for most part of the day. Reports of the move by the RBI on provisioning by banks for the fourth quarter led to the early rally in bank shares while IT shares weakened post their fourth quarter earnings in late trades.

  • The Nifty hit a 2016 intraday high of 7,978.45 in trade today. In the broader markets, BSE Midcap and Smallcap indices ended nearly 0.5% lower. Market breadth turned weak with 1478 losers and 1038 gainers on the BSE.

  • It is all about Bank Nifty, which is actually setting the pace and giving direction to the market. IndusInd Bank's results may not have cheered the market too much, but it is not doing any damage either. I think the trend on the banking counter is firm, said Dr CK Narayan.

NIFTY 3-Month

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