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Market Report

Tuesday, 14-Sept-2010

NSE

  • It was another good day for the Indian market which gave a firm closing following a session of positive trade albeit with some volatility. Today's momentum was led by technology, IT and autos while profit booking was seen in cements and realty. Largecap sector was strong in trade but the midcap was weak. Sensex shut shop at 19346, up 138 points and Nifty at 5795, up 35 points from the previous close.

  • The market continues to look strong and the important level for traders to watch out for now is 5700, says Rahul Mohinder, technical analyst, on CNBC TV18. The Nifty is now likely to test 5890-5900, he feels.

  • The market continues to be in a strong uptrend and frontline largecap stocks making new highs on strong volumes suggest stable and strong markets, says G Devanathan, market analyst, on CNBC TV18.

  • The trading activity in the market appears quite encouraging and investors appear to be buying shares for cash rather than just trading them, says Ridham Desai of Morgan Stanley on CNBC TV18. Market breadth is neutral and the advance-decline has been weak even as the midcap and smallcap indices have continued to do well, he adds. He believes that other breadth indicators suggest that the market is far from animated.

  • August WPI inflation has come in at 8.5% versus 9.78% as per the 2004-2005 series, reports NDTV Profit. Starting today, the Government has released a new series of the WPI that has 2004-2005 as the base year and not 1993-1994. Inflation figure for August as per the old series is at 9.5% versus 9.97%. August WPI primary article inflation as per the new series has come in at 15.8% (MoM), food articles inflation is at 14.64% (MoM), fuel group inflation is at 12.5% (MoM) while manufacturing inflation is at 4.8% (MoM), reports CNBC TV18.

NIFTY 3-Month