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Market Report

Thursday, 23-Sept-2010

NSE

  • It was a soft day for the Indian market which witnessed profit booking for the second straight day following a 10-day rally. Banks came in for a bit of a thrashing while some real estate, telecom and metal stocks were weak, too. Autos managed to provide some support to the indices and helped the Nifty stay above the 5950 mark. Sensex shut shop at 19861, down 80 points and Nifty at 5959, down 31 points from the previous close.

  • The market is trading in a range of 5900 and 6050 and we can expect volatility ahead of expiry, says Anand Kuchelan of Fudiciary Euromax Capital Markets on NDTV Profit.

  • The level of 20100 on the Sensex would continue to act as an important supply point below which the markets could consolidate, says Gautam Shah of JM Financial on CNBC TV18. He believes that a close above it anytime would lead to a move towards life highs. He sees 5984 and 5900 on the Nifty as immediate support levels and thinks that stock specific action is likely to continue.

  • Inflation update: Primary articles inflation for week ended September 11 has come in at 16.8%, food articles inflation is at 15.46% and fuel group inflation is at 11.48%, reports NDTV Profit.

NIFTY 3-Month