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Market Report

Monday, 06-June-2016

NSE

  • The S&P BSE Sensex ended the day at 26,777.45 today, down 65.57 points or -0.24 per cent, while the 50-share Nifty50 closed at 8,201.05 today, down 19.75 points, or -0.24 per cent. Lack of domestic triggers and an opportunity for re-allocation of portfolios at the end of March quarter earnings also weighed on market sentiment.

  • Benchmark share indices ended marginally lower amid a choppy trading session, led by Bharti Airtel and pharma shares. Further, investors are keenly awaiting the outcome of the Reserve Bank of India's bi-monthly monetary policy review tomorrow. With retail inflation showing signs of hardening, RBI Governor Raghuram Rajan may maintain status quo in the bi-monthly monetary policy review tomorrow and wait for the impact of delayed monsoon rains before making the next move, say experts.

  • There is neither any hope nor any urgency for RBI to cut policy rate tomorrow. But the market is eagerly waiting for Governor Raghuram Rajan to speak on the economy and, if possible, clear air on whether he wants a second term.

  • The Nifty50 had a 24-point trading range, which was unbelievably small and it was clear that big institutions, HNIs and market operators stayed away from the market. I would not read anything into the fall in the Nifty50 today, said Dr CK Narayan.

NIFTY 3-Month

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