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Market Report

Thursday, 16-June-2016

NSE

  • The S&P BSE Sensex opened 150 points down and then went on to register a loss of 411 points at one point before paring some of the losses in the last one-and-a-half hour of trade. The 30-stock index closed at 26,525.46 finally, down 200.88 points or -0.75 per cent. The broader Nifty50 settled at 8,140.75 today, down 65.85 points or -0.80 per cent.

  • Indian equities tumbled in today's trade mirroring massive sell-off in the Asian equities after Bank of Japan maintained status quo and refrained from adding fresh stimulus. Cautious policy stance by the US Fed on global growth worries and Brexit fears sparked panic selling at D-Street.

  • The domestic equity market gave away all of Wednesday's gains as multiple external factors weighed on Dalal Street. After an initial round of volatility, the indices managed to save the day by closing less than -1% down. It was a good recovery led purely by PSU Banks.The overall breadth of the market also saw improvement at the closing hour. At one point, the Nifty50 slipped 130 points from yesterday's closing to go below 8,100-level.

  • Experts said the market simply repeated the downward trajectory it had followed all through last week. The index hit the same levels that it had seen over the past few sessions, somewhere near 8,080 and still found some base there. But the rally from there on has not been strong. Until I see the 8,175 level in Nifty futures, I am not going to think of this downtrend is going to be reversed, said Dr CK Narayan.

NIFTY 3-Month

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