Thursday 16 October 2014

ECONOMY AND MARKET ANALYSIS FOR 16 OCTOBER 2014

ECONOMY ANALYSIS


  •  Choppy Sensex, Nifty close lower; DLF tanks 28%, BHEL up 4%
  •  Sept WPI hits 5-yr low of 2.38%; food prices cool to 33-month low
  •  IEA revises world oil demand growth sharply lower
  •  RIL up 2%, brokerages say downstream capex to drive growth
  •  IL&FS Engineering soars 20% on big order in Bihar from NHAI

MARKET ANALYSIS

  • The Nifty ended a rangebound session in the red in absence of cues from global peers and trading holiday tomorrow on account of assembly elections in states of Maharashtra and Haryana.
  • The 50-share Nifty closed at 7,864, down 20.25 points or 0.26 per cent. It touched a high of 7,928 and a low of 7,825.45 in trade today.
  • The S&P BSE Sensex ended at 26,349.33, down 34.74 points or 0.13 per cent. It touched a high of 26,550.79 and a low of 26,212.01 in trade today.
  • DLF (27.98 per cent), BPCL (2.34 per cent), Cairn India (1.95 per cent), HCL Tech (1.42 per cent) and Tata Motors (1.41 per cent) were among the top Nifty losers.
  • BHEL (up 3.87 per cent), Axis Bank (up 2.80 per cent), Bajaj Auto (up 2.67 per cent), IndusInd Bank (up 2.50 per cent) and SBI (up 2.02 per cent) were among the Nifty gainers.
  • The market breadth was negative on the NSE with 434 gainers against 618 losers.

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