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Market Report

Thursday, 20-Dec-2012


  • The Sensex closed the day 22.08 points, or -0.11 per cent, lower to end at 19453.92 today. It touched the day's low of 19520.51. The index had gained 232 points in last two sessions. The broad-based National Stock Exchange index Nifty fell by 13.20 points, or -0.22 per cent, to end at 5916.40 today.

  • Brokers said the market met with hesitancy on profit- booking after the recent upsurge in markets. They said falling market was cushioned to some extent by a firming trend in the European region that prompted investors to purchases selective stocks.

  • On the political front, Narendra Modi today performed a hat-trick retaining power for the third time in Gujarat while Congress ousted BJP from office in Himachal Pradesh.

  • Asian markets ended mixed. In Europe, France's CAC fell, Germany's DAX declined and UK's FTSE was flat in early trades.

  • Expect Sensex to be around 21-22K levels by April-end: Angel Broking. 2013 will be one of the best years, fundamentals will deliver and it is possible that we are going to see 15% earnings momentum.

  • Midcaps set to outperform benchmark indices in 2013: Analysts. After a year-to-date rise of over 38%, the BSE Midcap Index is set to head higher in the year 2013 outperforming the BSE Sensex, say analysts.

  • I was actually preparing for a breakout to happen soon but that has not happened so we will assume that the market will remain in range of around 5950-5960, says Mitesh Thacker. Metals remain favourite to buy into, he adds.

  • It appears that we do not have the strength to get pass 5950. In most of these cases market needs the fuel of short positions to go up, says Ashwani Gujral. You can see everyday there is Rs 1000 crores worth of buying but market does not move because if everybody is bullish, there is nobody really left to take the market higher, he explains.

NIFTY 3-Month

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