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Market Report

Wednesday, 15-Sept-2010


  • It was another wonderful day for the Indian market which showed stellar performance and closed with broad gains. Global cues were quite flat but strong domestic cues, like good IIP and inflation data, have kept the upward momentum in our market going. Today too, the largecap stocks outperformed the smallcaps and midcaps and sectors like oil & gas, metals, technology posted good gains. Sensex shut shop at 19502, up 155 points and Nifty at 5860, up 65 points from the previous close.

  • I am cautiously bullish on the market and we must wait and watch, says Rajesh Satpute, technical analyst, on Zee Business. After such a huge run-up of 400-500 points, a correction is due, he adds.

  • We see the Nifty as overbought in the short term and it can come down to 5700, says Rohit Shrivastav of Sharekhan on NDTV Profit. If 5700 holds then we are likely to see some gains and there is resistance for the Nifty in the short term at 5850, he adds.

  • India and Indonesia are two markets that have exceeded investor expectations so far this year, says Clive McDonnell of BNP Paribas on CNBC TV18. We have turned underweight on India because India is trading at a premium of 2.3x above implied fair value and there is earnings risk which will drag EPS down, he adds.

NIFTY 3-Month