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Market Report

Monday, 10-Sept-2012


  • The 30-share Sensex was range-bound and flat throughout the day to finally close at 17766.78, up 17.13 points, or +0.10 per cent. The 50-share NSE index Nifty closed at 5363.45, up 4.75 points, or +0.09 per cent.

  • Friday's subdued close on Wall Street on the back of a somewhat disappointing jobs data and the resultant choppy movements on the Asian bourses rendered the mood cautious at the Indian ring. A sedate start in European markets too contributed to the sluggish trend.

  • The Sensex, which had gained 437 points in last three sessions, touched a high of 17,810.90 and a low of 17,728.12 today. This was the fourth straight day of gains for the 30-share Sensex. According to analysts, the market will take cues from IIP, inflation data and the US Federal Reserve meet for direction in the near term.

  • Gold prices touched new all-time high of Rs 32,500 per 10 grams in the bullion market here today on seasonal demand amid strong global trend.

  • We might see a rally in the beaten down cyclicals but that is likely to be short-lived as the macro fundamentals again assume their importance, says David Pezarkar, Head-Equities, Daiwa AMC, reports ET Now.

  • S&P downgrade is an important event and we will all have to watch out and while that will have some impact on the overall economy as well as the market, says Vikas Khemani, President and Head-Institutional Equities, Edelweiss Securities, reports ET Now.

  • The revival of rains should save the winter rabi crop from drought said Indranil Sengupta, India economist at Bank of America Merrill Lynch (BofAML). However, India's FY13 GDP growth to remain at 5.6% despite better rains, he says.

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