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Market Report

Tuesday, 02-Apr-2013


  • The Sensex closed 176.20 points higher, or +0.93 per cent to 19,040.95 today, a level last seen on March 18. The index had gained 183 points in last three sessions. Similarly, the broad-based National Stock Exchange index Nifty rose by 43.70 points, or +0.77 per cent, to close at 5,748.10 today.

  • Brokers said investors confidence improved after Finance Minister P. Chidambaram reiterated the government's commitment to additional economic reforms. They said the market received further boost amid a mixed trend in the Asian region and after European stocks rose to one-week high as trading resumed after a four-day weekend.

  • Meanwhile, Japan's Nikkei average fell 1.1% to a nearly four-week low with exporters leading the decline after weak US factory data overnight. European shares rose and the Euro edged away from a four-month low today but gains were limited as investors awaited data on the region's factory output.

  • All eyes will be towards the PMI data for direction, ahead of the Q4 results season which is set to begin on April 12, 2013 with Infosys. Point to note today: Today's volumes were slightly better but it was all in the retail sector. FIIs were net sellers today - a day when the trend was positive upwards throughout. See our 'Market Statistics' page.

  • Prefer individual stocks amid current volatility in the market, says Ashwani Gujral. It is a volatile up move in a volatile up and down. So going with individual stocks is much better rather than trying to play the index. Yes the direction is intra-day upside, but the momentum is not strong enough for really large gains, says Gujral.

  • Nifty may touch 5820-5830 level on good performance by selected stocks, says Mitesh Thacker. Lot of beaten down stocks being pulled back purely because of short covering and the fact that they were extremely oversold, says Thacker.

  • Nifty in the first half of April could stay at around 5850-5900 level, says Deven Choksey. The market came down very heavily and the midcaps became very significantly victim of the kind of a situation, says Choksey.

NIFTY 3-Month

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