IntradayTrade dot Net
Market Report

Friday, 29-Oct-2010

NSE

  • Markets' interest is returning in frontline stocks and that made both the benchmark indices closed in the positive territory. Smallcap stocks took the beating and midcap stocks also didn't fare well. The Sensex closed at 20032, up 91 points from its previous close, and Nifty closed at 6017, up 30 points.

  • The markets remained subdued this week and all the benchmark and sectoral indices closed in negative territory. Realty was the worst hit. The numbers for this week are: The Sensex down 0.75% and Nifty down 0.9%. The CNX Midcap index was down 0.9%, BSE Smallcap index down 1.2% over the week.

  • Speaking to NDTV Profit, Sanjeev Patni of Prabhudas Liladhar believes that 5970 is the support level for Nifty. He says that quantitative easing would bring in liquidity inflow to India. He is bullish on media stocks because of the increase in the advertisement expenditure.

  • The Nifty has crucial support at 5940 and its target in the short term is 6350, says Somil Mehta of Sharekhan on Zee Business.

  • The market is likely to be negative and rangebound because there are too many news flows next week, says Sanjiv Bhasin, investment advisor, on NDTV Profit. Once that is out of the way then the market will settle down, he adds.

NIFTY 3-Month