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Market Report

Thursday, 11-Oct-2012


  • The BSE index Sensex rose +0.93% or 173.65 points, to end at 18804.75 points. The 50-share NSE index Nifty gained +0.99% or 55.90 points, to end at 5708.05 points, closing above the psychologically important 5700 level amid firm European cues and higher volumes.

  • Indian shares rose late today as expectations of better-than-expected earnings sent Infosys and HDFC Bank higher a day before they report results. The focus has shifted to July-September earnings, which come after the government's slew of economic and fiscal measures helped overcome worries about slowing growth and a continued threat of credit ratings downgrades.

  • India will unveil August factory data tomorrow with a Reuters poll showing a modest 1.1 percent growth annually. Industrial ouput data, along with inflation numbers on Monday, will be key in setting expectations for the central bank meeting at the end of the month.

  • World stock markets were mixed today, with Europe posting modest gains while Asia slumped after Spain, the fourth-largest Euro economy, was slapped with a two-notch credit downgrade by Standard & Poor's. Wall Street also was poised for modest gains as all Indexes are in the green as of this writing.

  • Don't expect market to go down much even if Infosys disappoints, says Ashwani Gujral. The fall may not be a whole lot, but if there is some kind of surprise, then this rally could get some impetus, he adds.

  • Opining that markets should move up steadily, Nirmal Jain of IIFL told ET Now that the Sensex may touch 20,000 by the end of 2012. Market rally may take a breather in October, he adds.

NIFTY 3-Month

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