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Market Report

Tuesday, 20-Nov-2012

NSE

  • In volatile trade, the BSE benchmark Sensex today erased the initial 129-point gain to settle with a loss of around 10 points at 18329.32 while the 50-share National Stock Exchange index Nifty edged up by 0.15 points to end at 5571.55 after touching the day's high of 5613.70 today.

  • Broadly, investors adopted a cautious stance ahead of the Winter session of Parliament where government is planning to introduce key bills and use it as an opportunity to showcase its resolve, said traders. Talk of a no-confidence motion or a vote on FDI issue also made investors avoid fresh positions, they added.

  • A weak opening in European markets further influenced the market activities amid European stocks falling as Moody's Investors Service downgraded France's rating, reminding investors of the continuing risks from the euro zone debt crisis. Asian markets had earlier ended on a weak note as the worries over the US 'fiscal cliff' led to a sell-off in the Asian markets.

  • Take very stock specific view in market, says Sandeep Wagle. I am neither bullish nor bearish. I am stock specific, that is the way one should be and in case 5550 is broken down, we may go down to 5430-5450, he adds.

  • Market may move up to 5900 levels on reform push and US fiscal cliff resolution, says Deven Choksey. Should the couple of particular events pass through, you would probably see market going above to 5900 subsequently somewhere in the middle of Jan, he explains.

  • The booster dose of first stage of policy reforms is over, says Sonam Udasi of IDBI Capital. If the Parliament session does not come out in favour of the policy markers, then we will have further headwinds, adds Udasi.

  • Expect winter session to be more productive, use dips to buy into markets, says Maheshwari of Edelweiss. The upcoming winter session should be more productive than the previous one, and will bolster the ongoing reform drive, Maheshwari said.

  • Morgan Stanley sees 26% upside potential for Sensex. It is of the view that slower global growth will be beneficial for inflation as well as corporate margins in India.

NIFTY 3-Month

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