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Market Report

Monday, 06-Sept-2010

NSE

  • It was a cheerful start to the week for the Indian market which, in keeping with positive global sentiments, traded with strength and ended with huge gains with the Nifty closing at a 31-month high. The rally was led by the metal pack which saw strong buying interest followed by realty, financial, oil & gas and auto. Today's session saw the biggest point gain on the Sensex since May 26, 2010, according to NDTV Profit. Sensex shut shop at 18560, up 338 points and Nifty at 5576, up 97 points from the previous close.

  • The Nifty paused for a couple of days and now has support at 5470, says Ashwani Gujral, technical analyst, on CNBC TV18. The resistance for the Nifty at 5550 has been crossed.

  • There is a lack of drivers for this market and I do not see a sharp upside or a strong runaway, says Rajesh Jain, market analyst, on NDTV Profit. The market may hit 5250 if FIIs start selling out, he adds.

NIFTY 3-Month