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Market Report

Monday, 25-July-2016

NSE

  • The BSE Sensex climbed 292.10 points, or +1.05 per cent, to eventually close the day at 28,095.34 today. The Nifty50 advanced 94.45 points, or +1.11 per cent, to 8,635.65 today. Equity investors got richer by Rs 1.10 lakh crore, as the BSE market capitalisation rose to Rs 1,07,98,972 crore during the day.

  • The S&P BSE Sensex rose over 200 points in afternoon trade today to reclaim the crucial psychological level of 28,000, led by gains in banks and Infosys. The Nifty50 rose over 80 points to cross 8,600 for the first time since July 22, 2015, and hit a fresh 52-week high of 8,631.85, supported by gains in sectors such as oil & gas, realty, consumer durable and banking stocks, which rose over +1 per cent each.

  • The Nifty ended at 52-week closing high led by banks after a meeting of G20 finance ministers came to a consensus to support global growth amid growing uncertainty post the Britain's exit from the European Union. State-owned oil firms gained on the back of government's plans to merge all into a single behemoth. Investors will now closely follow important cues this week like July F&O expiry, GST bill in the ongoing monsoon session of parliament and the US Fed meet.

  • Firm trading in European markets ahead of the two-day Fed policy review starting onTuesday and lack of negative surprises on the earnings front made sure the indices move higher despite a weak start.

  • Analysts had a mixed view of things. I have advised my clients to get out of long positions. We have booked profit to a fair degree in the market and I am happy to be on the sidelines at this juncture, said CK Narayan. The ideal strategy would be to try and trail my stop losses to 8,580 and then probably watch the market over the next couple of days. If we manage to hold on to this particular support level, there is a lot more to go on the upside. I would continue to maintain my long positions and probably trail my stop loss to 8,580 on the Nifty spot, Narayan said.

NIFTY 3-Month

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