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Market Report

Tuesday, 21-Sept-2010


  • It was another wonderful day for the Indian market which saw the Sensex and Nifty cross the 20000 and 6000 mark, respectively, and signal the continuance of the bull run. Global cues were flat but experts say strong inflows of FIIs is keeping our market's upward momentum going. Today, capital goods, technology and healthcare looked strong but the broader markets were weak and there was selling pressure in midcaps and smallcaps. Sensex shut shop at 20001, up 95 points and Nifty at 6009, up 28 points from the previous close.

  • The market has been moving up relentlessly and the Nifty now has support at 5950, says Ashwani Gujral, technical analyst, on CNBC TV18. He sees resistance at 6060 and then 6200.

  • We expect slight correction in the market but there is support for the Nifty at 5700, says Avinash Gorakshakar of Anagram Capital on NDTV Profit. The market rally is to continue to be driven by strong FII inflows, he adds.

  • An increase in FII inflows has led to this bull run in the Indian market, says Nirmal Jain of India Infoline on CNBC Awaaz. Domestic investors are still sitting on the sidelines, he adds. This uptrend will continue, he believes, and advises buying fundamentally strong stocks.

  • The market is likely to head much higher after consolidation and it will even test 21200 but the route is likely to be a difficult one, says Ramesh Damani, member of the BSE, on CNBC TV18. He believes the market may see a new high around the Coal India IPO and therefore, advises to enter markets even at these levels. He feels that the current rally is more sustainable than the last one and there are no signs of 2007-like euphoria.

NIFTY 3-Month