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Market Report

Wednesday, 01-Sept-2010

NSE

  • It was a good day of trade for the Indian market which closed with broad gains on the back of buying interest in almost all sectors following supportive global cues. After two days of profit booking, buying was seen in smallcap and midcap stocks and today's gainers in trade were telecom, metals and real estate. Sensex shut shop at 18205, up 234 points and Nifty at 5471, up 69 points from the previous close.

  • There is support for the Nifty at 5350, says Rahul Mohinder, technical analyst, on CNBC TV18. The important level on the Nifty now is 5430 which should act as a trend decider for short-term traders, he adds.

  • The global environment remains supportive for relative outperformance of Indian equities, says Bharat Iyer of JPMorgan on CNBC TV18. He reckons that moderating global growth implies soft commodity prices and sustained easy monetary policies, both crucial for India.

  • Investors should buy the dips in India with an expected return of around 23% to the end of 2011, says Ridham Desai of Morgan Stanley on CNBC TV18.

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