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Market Report

Tuesday, 01-Mar-2011

NSE

  • The markets registered one of the highest gains in recent days and buying was seen across all sectors. The remarkable phenomenon of today's trade was that the fundamentally strong stocks gained the most and auto with its good numbers was the best performer. Other sectors that registered robust growth include capital goods, banking and realty. The Sensex closed at 18446, up 623 points from its previous close, and Nifty shut shop at 5522, up 189 points.

  • The FIIs money is expected to come to India now, says Ashish Maheshwari of Globe Capital on CNBC Awaaz. He further says that as union finance minister is targeting the fiscal deficit to be 4.6% of GDP, he must have ways to control food inflation. If he is able to achieve the targeted 4.6% fiscal deficit, then he would have the buffer that he can use to decontrol diesel prices.

  • The Finance Minister has done a decent balancing act and the move to allow FIIs to invest in MFs is very positive, says Ridham Desai of Morgan Stanley on CNBC TV18. Infra spending going up 27% is a big positive, too, but there is some skepticism on revenue and subsidy numbers, he adds.

  • Downside is now limited and the market will find support at 5200, says Ramesh Damani, member BSE, on CNBC Awaaz. Upside is capped at 5600-5800 and factors like crude oil prices, FII inflows will determine if the Nifty can go above these levels, he adds.

NIFTY 3-Month