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Market Report

Monday, 01-Oct-2012

NSE

  • The BSE benchmark index, Sensex, which had gained 183 points in the previous session, opened marginally up and closed with a gain of 61.17 points, or +0.33% at 18823.91 amid a positive trend in European shares. The 50-share National Stock Exchange index Nifty today gained 15.50 points, or +0.27% to close at 5718.80 after the markets were stuck in a tight range in trades today. The Sensex traded in a range of 85 points and the Nifty traded in a range of 25 points.

  • Trading remained firm on continued buying by funds and retail investors on hopes that the government will soon announce more economic reforms, market experts said.

  • In Asia, China, Hong Kong and South Korea markets were closed today while indices from Japan, Singapore and Taiwan ended lower today on reports that China's manufacturing shrank for second month amid a global slowdown. European stocks, however, were trading higher in their afternoon deals.

  • If the Reserve Bank of India, before the next review day, does a small cut of 25 basis points, then the entire banking and NBFC interest sensitives will tend to outperform, says Gaurang Shah of Geojit BNP Paribas Financial Services.

  • The idea of trading this market is that the one who stays long, the longest period of time in a bull market, makes the maximum amount of money. So, this is the time for those cue trades, those 200, 300, 500-point trades is probably over, says Ashwani Gujral. Maintain long positions in a bull market for maximum return, he advises.

  • Markets will obviously, over the next few weeks, look to the RBI to cut rates. There may be a quarter percentage points finally, says Sajiv Dhawan. Q2 results, global liquidity flows to drive markets, he expects.

  • Stock markets need more policy push from Government to sustain upmove, reports ET Now. After rising almost 8% in Sept, driven by FII inflows after govt's policy push, investors are seeking more such pro-business measures, it explains.

  • The Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) will remain closed tomorrow, October 2, for observing Mahatma Gandhi Jayanti.

NIFTY 3-Month

(Data/Charts courtesy NSEI/Yahoo!/iCharts/The Economic Times)