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Market Report

Tuesday, 04-Dec-2012


  • The Sensex, which moved between 19373.94 and 19263.71, closed higher by 42.80 points or +0.22% to 19348.12 today. The broad-based National Stock Exchange index Nifty edged up by 18.30 points or +0.31% to 5889.25 today.

  • Markets ended with marginal gains today, amid the ongoing debate on foreign direct investment in retail, led by oil and gas and financial shares. Market participants mostly remained on the sidelines ahead of the discussion on FDI in retail. The positive domestic sentiment was aided by the firming trend in European region, said traders.

  • In Asia, most indices slipped lower as some weak global manufacturing data contrasted with earlier numbers showing improvement at Chinese factories. Stocks in Europe firmed up after a mixed start on Tuesday amid US November manufacturing data.

  • Nifty can inch towards 6000-6050 levels in coming months, says Deven Choksey of KR Choksey Securities. Do not expect a larger fall in the market. 5770-5800 would offer a good amount of support to the market in present times. We could see the index inching up to somewhere around 6000-6050 levels going forward. It is going to be a liquidity driven rally at the end of the year where year end flows will come into the market. It would also be backed by some of policy decisions which are likely to come up in the Parliament. Most importantly, FDI in insurance is likely to get through, he adds.

NIFTY 3-Month

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