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Market Report

Tuesday, 19-Feb-2013

NSE

  • The Sensex rose by 134.64 points, or +0.69 per cent, to close at 19,635.72 today, the highest closing since February 6. Most of the gains were recorded in last 30-minute of trade. The index had gained 33 points in the previous sessions. Similarly, the broad-based National Stock Exchange index Nifty jumped up by 41.50 points, or +0.70 per cent, to end at 5,939.70 today.

  • Brokers said a better trend in Europe, biggest consumer of Indian software and other goods, on positive signals for the economic recovery also influenced the market sentiment after a range bound trading session in the first half.

  • In Asia, stock markets in Hong Kong declined for a second straight day today, weighed down by real estate and financials, as investors grew concerned that both Beijing and Hong Kong would launch more curbs to cool rising property prices.

  • Strong momentum is needed for sustained market rally, says Ashwani Gujral. It is still likely to be more range bound than otherwise, he says. Maybe, we will hang around 5970-6000 kind of zones if you have another couple of good days. But you need good strong momentum and leadership to come back for a sustained market rally. It is okay to have stocks where shorts are getting covered or beaten up stocks going up one day but sustained leadership of one sector is important, he adds.

  • Market's upside could be limited for a few days, said Ambareesh Baliga. There could be some more upsides, but I do not think that tide has changed as of now. The downside is very clear, I do not see the market really going below 5840. And on the top side, I really do not see the markets crossing 6000-6020 in a hurry. Possibly post budget, we should see a new move, he adds.

  • I am hopeful of IT sector, says Sandeep Wagle. From now on to the next two or three days, and immediate short term, I look at a good trading upside, he adds.

NIFTY 3-Month

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