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Market Report

Wednesday, 20-Feb-2013

NSE

  • Extending gains for third day in a row, the Sensex rose 7.03 points, or +0.04 per cent, to close at 19,642.75 today. The gauge had gained over 167 points in last two trading sessions. Similarly, the broad-based-based National Stock Exchange index Nifty rose by 3.35 points, or +0.06 per cent, to close at 5,943.05 today, after moving between 5,971.00 and 5,937.55 in intraday.

  • Brokers said while profit-booking erased most of the day's gains, an upsurge in trend-setter Reliance Industries and software exporting companies kept the volatile market in better tone.

  • A firming trend in the Asian region and higher opening in Europe further influenced the market sentiment to some extent, traders said.

  • The Budget session of the Parliament is set to begin tomorrow. We will have the Railway Budget on February 26, Economic Survey of India on February 27 and the Union Budget 2013-14 on February 28, 2013.

  • Budget 2013 might provide directional sense to the markets, says Mitesh Thacker. As we approach the budget we might still be confined within this range of about 5850 to 5970, he adds.

  • Budget 2013: Market may not go to fresh highs, says Ashwani Gujral. Before, during and after the budget we will remain flat broadly 5800 to say 6200 that should be the band for most of this year, adds Gujral.

  • Expect market to break out from current range post Budget 2013, says Dipan Mehta, Member BSE and NSE. This tight movement, which we have seen in the indices and the boarder market, could get broken on either side. All eyes are on the budget and a big move could be expected on the budget day itself or thereafter, he adds.

  • Expect Indian markets to rally post Budget, says Punita Kumar Sinha of Pacific Paradigm Advisors. Typically the Indian markets either correct pre-budget or post-budget. We are seeing some of the correction right now, but I would not be so concerned because the Finance Ministry is very keen to have buoyant capital markets because they have a very aggressive divestment target. They have to manage the fiscal deficit. Any correction right now will reverse post budget, hopes Sinha.

NIFTY 3-Month

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