IntradayTrade dot Net
Market Report

Monday, 12-Nov-2012

NSE

  • The Sensex, which had lost 219 points in last two trading sessions, declined further by 13.34 points or -0.07% to end at 18670.34 as investors adjusted their portfolios ahead of a special 'Muhurat' trading on Diwali tomorrow, followed by a holiday on Wednesday. The broad-based National Stock Exchange index Nifty eased by 2.55 points or -0.04% to close at 5683.70 led by stocks of metal and capital goods sectors.

  • Sentiments remained bearish on the last day of Samvat 2068 on an unexpected contraction in September industrial output, marginally high consumer price index and trade deficit widening to an all-time high of USD 20.96 billion.

  • After showing 2.5% growth in August, industrial output declined by 0.4% in September as manufacturing activity showed a decline. This has doused hopes of a revival in the economy and may force RBI to review its policy rates earlier than the fourth quarter credit policy.

  • The Asian shares were also subdued today as investors' concerns about the fiscal crisis in the United States and Greece's bailout programme dented optimism over the growth prospects of the world's two largest economies, the United States and China.

  • The European markets were also trading on a subdued note as tensions surrounding Greece, remained elevated ahead of a euro zone finance ministers' meeting in Brussels later today to discuss whether to release a new tranche of funding to the country.

  • Samvat 2069 is expected to bring a lot of joy and cheer to the trading community. Swift policy action by the government and strong FII inflows which are expected to continue will push the BSE Sensex past 20,000 this coming year hitting an all-time high between April 2013 and next Diwali, say analysts.

  • After a challenging previous year, Samvat 2068 provided some cheer to the markets at the end, says Kotak Securities. For much of the year, there was frustration and near-despair. New Samvat brings hope of better future, they add.

  • We might be getting towards levels of 5600 in the 3-4 days and if we bounce from there, all should be well and we should maintain this range of 5600-5750," says Mitesh Thacker.

  • In a chat with ET Now, Mehraboon Irani of Nirmal Bang Securities, felt that over the next 30-45 days we are going to have some more big bank reforms coming which can possibly kick start the investment cycle. He said: I am optimistic and I feel that maybe sooner rather than later the markets will make a very decent and fresh attempt to go back to the 6000 maybe a month later, maybe two weeks later...

NIFTY 3-Month

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