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Market Report

Thursday, 06-Sept-2012

NSE

  • The Nifty ended at 5238.40, up 12.70 points or +0.24 per cent and the Sensex closed at 17346.27, up 32.93 points or +0.19 per cent. It touched a high of 17,418.40 and a low of 17,294.74 in trade today.

  • The Nifty pared some of the intraday gains in last half an hour of trade today, but closed comfortably above the 5,200 mark, led by gains in technology, auto and healthcare stocks.

  • Surpassing all previous records, gold today hit a new record high of Rs 32,758 per 10 grams in futures trade as participants built up huge speculative positions, tracking a firming trend overseas.

  • The rupee erased early gains today and fell 11 paise to 56.02 a dollar on fresh demand for the American currency from banks and importers amid capital outflows from foreign funds.

  • ECB today has kept key interest rate unchanged at record low of 0.75% and has agreed to a new bond-buying programme. As a result, the Euro has soared and European and US markets have also soared. Traders expects substantial action by the ECB can lead to a relief rally in the domestic market, providing respite from the recent range-bound trade.

  • Market may witness upside move in immediate short term, says Ashwani Gujral. Chances are that market is getting ready for some upside in the immediate short term rather than downside, he adds.

  • Markets are poised for range bound trade, as per Edelweiss. In the first two months of this year, Nifty rallied by more than 20% driven by a global liquidity boost, which was followed by the retracement of a large part of the rally, it feels.

  • Nifty lackluster, form Butterfly Spread; market may rebound, says Nandish Patel of Sharekhan. Till the time the index is holding levels above 5200, we think that market may rebound, he says.

NIFTY 3-Month