Friday 16 August 2013

Closing Summary, Market Synopsis: 16th August, 2013

Photo: Closing Market Update:
There has been carnage on the street as the Reserve Bank of India's (RBI) curbs on forex outflows to stem rupee's slide rattled investor sentiment. Fears that the Federal Reserve will begin to scale back its monthly bond buys in September 2013 added to the market's setback. The Sensex settled at over 7-1/2 week low below the psychological 19,000 mark. The 50-unit CNX Nifty settled at its lowest level in over 18-1/2 weeks. The S&P BSE Sensex was down 769.41 points or 3.97%, off 712.77 points from the day's high and CNX Nifty closed down by 4.08% at 5508.
 
The market breadth, indicating the overall health of the market, was weak. All the sectoral indices on BSE & NSE were in the red. In Nifty50 stocks the advance to decline stands at 3 advances to 47 declines. The BSE Mid-Cap index fell 2.71% and the BSE Small-Cap index declined 2.15%. Both these indices outperformed the Sensex.
There has been carnage on the street as the Reserve Bank of India's (RBI) curbs on forex outflows to stem rupee's slide rattled investor sentiment. Fears that the Federal Reserve will begin to scale back its monthly bond buys in September 2013 added to the market's setback. The Sensex settled at over 7-1/2 week low below the psychological 19,000 mark. The 50-unit CNX Nifty settled at its lowest level in over 18-1/2 weeks. The S&P BSE Sensex was down 769.41 points or 3.97%, off 712.77 points from the day's high and CNX Nifty closed down by 4.08% at 5508.

The market breadth, indicating the overall health of the market, was weak. All the sectoral indices on BSE & NSE were in the red. In Nifty50 stocks the advance to decline stands at 3 advances to 47 declines. The BSE Mid-Cap index fell 2.71% and the BSE Small-Cap index declined 2.15%. Both these indices outperformed the Sensex.

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