IntradayTrade dot Net
Market Report

Friday, 03-Sept-2010

NSE

  • It was a flat close for our market which traded within a very tight range for most part of the day. It was more of a cautious stance adopted on the back of jittery global economic scenario. Buying was mostly stock specific and in smallcap and midcap sectors. Realty and auto saw some strength, too. Sensex shut shop at 18221, down 16 points and Nifty at 5479, down 6 points from the previous close.

  • It was a mixed week for the Indian market which saw a bout of volatility, some flat trade and good rallies, too. However, quiet-to-soft global cues kept our market mostly flat. This week's performance was average and the numbers are: Sensex up 1.2% and Nifty up 1.3%. CNX Midcap index was up 1.9%, BSE Smallcap index up 2.8% over the week.

  • The market is moving in the range of 5350 and 5500 with key support for the Nifty at 5350-5370, says Rohit Shrivastav of Sharekhan on NDTV Profit. Above 5500 the Nifty is facing a lot of pressure, he adds.

  • Deflationary forces continue to mount and we maintain a bearish view on stock markets with the seasonally weak period for equities, namely September and October, having formally commenced, says Chris Wood of CLSA on CNBC TV18. The central point remains that the quicker the US stock market falls from here, the quicker the Fed will commence the next wave of quantitative easing, he adds.

  • Inflation update: Food articles inflation for week ended August 21 has come in at 10.86% versus 10.05% (WoW), reports NDTV Profit. Fuel group inflation is at 12.71% versus 12.57% and primary articles inflation is at 15.19% (WoW) for week ended August 21, it adds.

NIFTY 3-Month