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Market Report

Tuesday, 30-Nov-2010

NSE

  • It was a good day of trade for the Indian market which closed with broad gains despite a weak opening. Global cues were mixed and not really supportive but a domestic trigger in the form of good GDP numbers had our market recover from the day's low and move up sharply helping the Nifty give a closing above the important 5850 mark. Realty, banks and autos were strong in trade today. Sensex shut shop at 19521, up 116 points and Nifty at 5862, up 32 points from the previous close.

  • An important level for traders to watch out for today is 5800 below which the market will remain weak and negative, says Rahul Mohinder, technical analyst, on CNBC TV18. We could see the Nifty testing the sub 5600 levels in the next few days, he adds. He sees strong resistance at 5900-5920.

  • The Q2 GDP number has come in at 8.9% versus 8.8% (QoQ), reports NDTV Profit. The April-June GDP growth revised higher to 8.9% versus 8.8% earlier, it adds.

  • Q2 GDP: Q2 manufacturing growth is at 9.8% versus 8.4% (YoY), construction growth at 8.8% versus 8.3% (YoY), farm sector growth at 4.4% versus 0.9% (YoY), mining sector growth at 8% versus 10.1% (YoY) and services sector growth has come in at 9.8%, reports CNBC TV18.

  • Q2 GDP: The July-September GDP growth numbers will boost confidence in the country's economy, says Pranab Mukherjee, Indian Finance Minister, reports Zee Business. FY'11 GDP growth is expected at 8.50-8.75%, he adds, says the channel.

NIFTY 3-Month