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Market Report

Tuesday, 15-Jan-2013


  • After crossing 20,000 points level in early trade and again for a second time in the last hour of market, Sensex closed with a gain 80.41 points, or +0.40 per cent, at 19,986.82 today. This is the first time since January 6, 2011 that the index crossed the psychological 20,000-mark. The NSE Nifty closed with a gain of 32.55 points, or +0.54 per cent, at 6,056.60 after touching day's high of 6,068.50 today.

  • Brokers said the market remained in a bullish mood following GAAR postponement, amid hopes of rate cut after inflation declined to 3-year low of 7.18 per cent yesterday.

  • There was growth amid sustained fund-based buying following government measures to bolster economic growth and steady inflow of better-than-expected robust quarterly earnings. However, traders booked profits in some counters that recently notched up good gains, experts said.

  • Most Asian markets ended lower today as worries about the US debt ceiling impasse led investors to take profit after a strong recent run. Europe is also trading mixed.

  • Nifty has found some resistance near 6050 levels, said Ranak Merchant of Sushil Financial Services. The same was honoured even in yesterday's rally. 6050 needs to be watched on closing basis for establishment of the next breakout that may take us to 6181, said Merchant.

  • Nifty going towards levels of 6150, says Mitesh Thacker. If somebody is looking at a positional trade may be would not have a appeal to him for playing for about 120 points on the Nifty. But, some of the PSU banks have done extremely well and have pointed out that the earlier targets of 6150 to about 6180 should be retested in the next few days. Look for levels around 5850, says Thacker.

  • Index will remain choppy and difficult to trade, says Ashwani Gujral. Today's rally was controlled not by the market leading groups but by the lagging groups. We need big moves from large stocks. Otherwise we could remain choppy and market could make heavy weather of the next 50-100 points, he fears.

NIFTY 3-Month

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