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Market Report

Thursday, 25-Apr-2013

NSE

  • Rising for the fourth straight session, the Sensex advanced 227.49 points, or +1.19 per cent, to close at 19,406.85, a level last seen on March 15. The index had gained 448 points in last three sessions. Similarly, the broad-based NSE's Nifty regained 5,900 level by rising 79.40 points, or +1.36 per cent, to close at 5,916.30 today. Volumes were excellent.

  • Brokers said the buying activity further gathered momentum as investors and funds indulged in covering their short pending positions on April expiry in derivatives segment. They said firming trend in the Asian region further fuelled the sentiment, adding the market received major support from financial and interest-sensitive stocks on optimism that RBI might cut interest rate in its monetary policy meet next week, after a slump in food inflation numbers.

  • On the global front, Asian markets ended higher in trades on Thursday on hopes that the weak global economic data will encourage major central banks to keep or deepen their monetary stimulus improving risk sentiment.

  • Better way to trade is to just keep trailing the market, says Ashwani Gujral. You would not like to trail in a weak sideways kind of choppy market, but in a trending market, the view has to be that we try to push the trend, he says. If you can take 50-70 point correction, then holding on to your long positions should not be such a big problem, adds Gujral.

  • Chances of a pullback likely on Nifty in near-term, says Mitesh Thacker. There's a good chance that you might see a drop to about levels of 5820-5800 where it would be more better at trade, Thacker said.

NIFTY 3-Month

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