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Market Report

Wednesday, 19-Dec-2012

NSE

  • Rising for the second straight day, the Sensex closed 111.25 points up or +0.57 per cent, at 19476.00 after touching a high of 19516.02 today. The broad-based National Stock Exchange index Nifty rose by 32.80 points or +0.56 per cent, to close at 5929.60 today.

  • Brokers said banking sector stocks hogged limelight after the banking Bill passed in Parliament yesterday, paving way for foreign investments in the sector and establishment of new private banks. They said a firming global trend as US tries to avert the fiscal cliff, further influenced trading sentiments.

  • On the global front, Asian markets surged as optimism grew that a deal would be made to avert the "fiscal cliff" amid hopes of economic stimulus from the Bank of Japan this week. European markets are trading higher with CAC, DAX and FTSE gaining 0.3-1%.

  • Market will move up slowly, says Ashwani Gujral. With mild setbacks, there is great amount of opportunity which is there both in large cap as well as midcap stocks, he adds.

  • Markets could see levels of about 6700-6800, says Ambareesh Baliga. At least till the budget I see the markets really touching new highs. It is possible that the markets could see levels of about 6700-6800, he adds.

  • Buy the index around 5920-5925, says Mitesh Thacker. I am looking for a target of around 6000, not very big given the fact that 6000 will automatically break out above levels of 5950-5960, he adds.

NIFTY 3-Month

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