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Market Report

Friday, 12-Apr-2013


  • The Sensex, which had gained 316 points in last two sessions, dropped by 299.64 points, or -1.62 per cent to 18,242.56 today. Similarly, the broad-based National Stock Exchange index Nifty lost 65.45 points, or -1.17 per cent to close at 5,528.55 today.

  • Infosys alone dragged the Sensex deep into negative terrain today. The second biggest software exporter, Infosys plunged by 21.33 per cent to Rs 2,295.45, recording its biggest single day fall since April 2003, after lower-than-expected revenue outlook for fiscal 2013-14 and disappointing Q4 earnings.

  • Markets ignored sentimentally positive macroeconomic data like February IIP at 0.6 per cent as against street expectations of marginal decline and Consumer Price Index (CPI)-based inflation declining to 10.39 per cent in March, said brokers. Trading sentiment further dampened on a weakening trend in overseas markets before a report that may show US retail sales stagnated. Global shares declined as investors booked profits after the recent gains.

  • Stop for short positions remain 5750, says Ashwani Gujral. The DMs are moving higher and this sort of diversions never really continues for a long time so either they top out or we bottom out and we start following them, he said.

  • Nifty to remain between 5500 and 5620, says Mitesh Thacker. We might actually be slightly more sideways between the range of about 5600-5620 on the upside to about 5500 on the downside, he adds.

NIFTY 3-Month

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