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Market Report

Friday, 02-Nov-2012

NSE

  • The Sensex, which had gained over 130 points in last two trading sessions, rose further by 193.75 points, or +1.04% to end at 18755.45 -- the highest since October 25 when it ended at 18758.63. The wide-based National Stock Exchange index Nifty rose by 52.65 points, or +0.93% to close at 5697.70 today. The Sensex and the Nifty touched an intra-day high of 18794 and 5711 levels, respectively.

  • Rising for the third straight day, the BSE benchmark Sensex today spurted up to over one-week high on heavy buying in capital goods, auto and bank shares amid a firming trend in global markets on upbeat US economic data. Brokers also said trading sentiment was bolstered after IT major Wipro reported 23.8 per cent growth in consolidated net profit for the second quarter ended September 30.

  • Besides, a firming trend on the Asian bourses and a higher opening on the European markets eyeing robust US jobs and manufacturing data later today, also triggered buying activity on the domestic boures, they said.

  • Nifty slipped below the key support level of 5,630 during earlier this week as RBI did not cut the policy rates. Markets to concentrate on corporate earnings next week, says ET Now.

  • If the 5730 mark has been taken care of, then clearly we can resume the uptrend getting past the earlier highs of 5800, says Mitesh Thacker. Beyond 5730, realty and banking will come back into action, he asserts.

  • Market still highly focused on the visibility of earnings, says Sangeeta Purushottam. There is still nervousness around the earnings numbers and a desire to see numbers come through before making investments, says Purushottam.

  • Today's gap up after two narrow range days is a signal that the trend has reversed from the upside and now, we just need a bit of help for the market cross 5730, says Ashwini Gujral. Negativity is behind us, he adds.

NIFTY 3-Month

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