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Market Report

Thursday, 11-Apr-2013

NSE

  • Sensex, the benchmark BSE index rose +0.69 percent, or 127.75 points, to end at 18,542.20 today, marking its highest close since April 4. The broader NSE index, Nifty, rose +0.64 percent, or 35.30 points, to end at 5,594.00 today, its highest close since April 3.

  • Global risk appetite was firm on hopes of global growth recovery after aggressive monetary policy stimulus by Japan coupled with positive economic data from China. Gains also came after both the Dow and the S&P 500 ended at record highs, while Asian shares were further underpinned by data showing a surge in local currency loans in March.

  • Analysts expect the near-term trend to be determined by Infosys Ltd's fourth-quarter results on Friday, which is expected to surprise the market, setting the tone for Jan-March earnings results season, and also industrial production data, which probably shrank in February.

  • Some buying is happening at lower levels as benchmark indexes have come close to support at 5500, said Deven Choksey.

  • Pullback on Nifty possible till 5750 mark is not crossed, said Ashwani Gujral. There seems to be a pullback till 5750 mark is not crossed. I would be trading long on index had it been a rally. IT sector is the best chance that the market has, so at least the first set of results should be good. IT sector will probably drive the market higher, Gujral said.

  • Don't expect Nifty to break 5630-5650 mark in near-term, said Sandeep Wagle. I am not very hopeful on Infosys. The range of the Nifty now is 5550 to 5650 and we will consolidate probably, says Wagle.

NIFTY 3-Month

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