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Market Report

Friday, 07-Dec-2012

NSE

  • The Sensex, which had gained 182 points in last three sessions, fell by 62.70 points or -0.32% to 19424.10 led by stocks of realty and IT sector. The broad-based National Stock Exchange index Nifty fell by 23.50 points or -0.40% to 5907.40 today, after rising to 5949.85 in early trade.

  • Our markets snapped a three-day rise today and fell on emergence of profit-booking activity amid the government winning FDI in multi-brand retail vote in the Rajya Sabha.

  • Brokers said the market failed to hold on to gains as investors booked profits in stocks that have run up while the IT sector continued to be under pressure on growth worries. Market analysts said the down trend was further influenced by weak cues from European markets as investors adopted a cautious stance ahead of US non-farm payrolls data release later in the day.

  • On the global front, Japan's Nikkei share average ended slightly lower on Friday, coming off a seven-month high.

  • We were taking long positions in Nifty, individual stocks, said Sajiv Dhawan of JV Capital Services. So long as the fund flows continue from the FIIs and retail investors are certainly coming back, says Dhawan.

  • BofA-ML expects Sensex to hit 21,750 by December 2013, reports economictimes.com. Despite recent outperformance, the bank's model portfolio continues to favor rate sensitive sectors at least till the budget in February, it adds.

  • Market to climb higher next week, says Ashwani Gujral. This week has been a consolidation week and we have kind of been flat so basically gained about 60-70 points on the Nifty. The next week we should expect again the market to start its climb higher and obviously why or how it does it that only time will tell, probably the next moves on the domestic space may take some time.

  • Overall market trend remains on the upside, says Mitesh Thacker. Overall we should be doing good and around 5850 and 5840 would be fresh entry point for individual stocks as well as the indices, he adds.

NIFTY 3-Month

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