IntradayTrade dot Net
Market Report

Wednesday, 05-Sept-2012


  • The Bombay Stock Exchange's 30-share Sensex closed at 17,313.34 down 127.53 points, or -0.73 per cent. The National Stock Exchange's 50-share S&P CNX Nifty closed at 5,225.70 down 48.30 points, or -0.92 per cent to close at 5,225.70. The Sensex and the Nifty reached an intra-day low of 17,251 mark and 5,216 levels, respectively.

  • The Indian markets which made modest gains yesterday, opened weak and traded in negative terrain for most of the session as metal, capital goods and bank shares were under pressure. The rupee, which slipped to near 56-levels against the US dollar, also made investors nervous.

  • The coal block allocation issue continued to cast its shadow on Parliament for the eleventh day today paralysing proceedings with BJP remaining unrelenting on the demand for resignation of Prime Minister Manmohan Singh.

  • The Nifty has largely remained range-bound despite record FIIs inflows as investors are cautious over a host of domestic and global issues, reports ECONOMICTIMES.COM.

  • On the global front, Japan's Nikkei average fell to a near five-week closing low on Wednesday as soft US manufacturing data and construction spending added to concerns about a global economic slowdown. Bearish bets on China-related stocks also helped pull the market lower as some investors were factoring in an abrupt slowdown in the Chinese economy.

  • See Nifty heading towards 5180-5150 levels, says Ashwani Gujral. Today was a right day to go short on this market and chances are that if we do get follow through, we should slowly head towards 5180-5150 levels and then may be 5100, he adds.

  • Nifty may test 5200 levels, time to buy quality stocks, says Sandeep J Shah. The markets will actually make a higher low, may be 5100-5200 on the downside but this is still the time to buy and accumulate quality stocks, he adds.

  • Bank Nifty likely to lead the market decline again, says Mitesh Thacker. There was some short covering towards the end of today and yesterday I was looking at the possibility of ICICI Bank or State Bank bouncing back, but given the fact that those stocks have also given away, it would be the Bank Nifty leading the decline again, he says.

NIFTY 3-Month