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Market Report

Monday, 03-Sept-2012

NSE

  • The Sensex ended at 17,384.40, down 45.16 points or -0.26 per cent and the Nifty ended at 5,253.75, down 4.75 points or -0.09 per cent.

  • Our market lost all of its early gains today to close flat as the government-BJP stand-off over CAG report on coal block allocation continued even today, signalling the possibility of a washout of the remaining four days in the Monsoon session of Parliament. Also, reports that the country's manufacturing sector in August witnessed the weakest growth rate in nine months sparked off some selling. Earlier, the postponement of the GAAR issue turned out to be a non-issue, at least for today.

  • Market may consolidate at current levels. So while the market will gain strength only above Friday's high, which is around 5303, it is possible that the market consolidates here: Ashwani Gujral.

  • Once we start closing below today's levels, the markets could decline to the levels of about 5120 to 5100: Mitesh Thacker.

  • Market looking weak in near term. Bank Nifty and Nifty both are looking equally weak. So I would not single out a Bank Nifty and I would not say that Bank Nifty at this point in time is looking much more weaker than the Nifty, both are looking equally weak and both will have an equal move in terms of percentage: Sandeep Wagle.

  • GAAR development may not push market higher. The development by itself may not push the market higher but it will give reason to more players to invest at lower levels, says Sekhar of Angel Broking.

NIFTY 3-Month