WealthRays - Markets at Sep 19 2013
WealthRays - Markets at Sep 19 2013
WealthRays - Markets at Sep 19 2013
MARKET SNAPSHOT Market Synopsis US Fed move lifts mood; Sensex hits 32-month high Local share indices rose sharply, with the S&P BSE Sensex closing at 32-month high. The Sensex closed up 684 points or 3.4 % at 20646, and Nifty ended at 6115, up 216 points or 3.6 %. About 1412 shares have advanced, 990 shares declined, and 163 shares are unchanged. In a surprise move by the US Federal Open Market Committee late Wednesday decided to keep its monthly asset purchase program unchanged at $85 billion per month, awaiting for more evidence that the economic progress will be sustained. "The Committee decided to await more evidence that progress will be sustained before adjusting the pace of its purchases," the Federal Reserve said in a statement after the two-day FOMC meet. Markets, which were expecting US Fed to taper the monthly asset purchase program by $10 billion-$15 billion, cheered the move with S&P 500 rising to record high after the statement.
: 20,646.64 (+ 3.4%)
BANK NIFTY : 11,148.65 (+ 6.7%) CNX IT INDIA VIX : 8,156.95 (- 0.03%) : 24.50 (-11.52%)
NSE Top Gainers The rupee rose to a five-week high against the dollar. At 1600 IST, the Indian Rupee was trading at 61.88 / US $ against Wednesday's close of 63.38 / US $. Bank shares led the gains, with State Bank of India, PNB, and YesBank rising 8-23%. Bank Nifty surged 6.7% or 700 points to 11148. The index crossed the 11000-mark for the first time since July 24, 2013. Among specific stocks, shares of Suzlon Energy rose 3% to 6.80 as the company divested 75% stake in its China subsidiary to Poly LongMa Energy for US $ 28 million. Shares of Reliance Broadcast Network fell 2.8% to 49 on profit booking after gaining in early trade as the company's board, post market hours Wednesday, approved delisting shares from stock exchanges. Key Events to watch out for - Sept 20th - RBI to detail Mid-Quarter Review of Monetary Policy. - RBI Governor Rajan to speak at press conference post midquarter monetary policy review announcement. All deputy governors to attend. - CPI for rural and farm labourers for August, by Labour Bureau. Symbol CMP % change 9.2% 9.12% 8.86%
PNB 556 BANKBARODA 579 JPASSOCIAT 42.4 NSE Top Losers Symbol HCLTECH INFY COALINDIA CMP 1022 3010 297
Bank Nifty Bollinger Bands & RSI Charts indicate positive trend