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Market Report

Thursday, 09-May-2013


  • After a three-day of sharp upsurge, the Sensex today declined by 51.14 points, or 0.26 per cent, to close at 19,939.04 today. The gauge had hit the crucial 20,000 level many times during the day. The index had climbed to three-month high by surging 415 points in the previous three sessions. Similarly, the wide-based National Stock Exchange index fell by 19.15 points, or -0.32 per cent, to close at 6,050.15 today.

  • Brokers said investors offloaded some of the recent gainers to book profits ahead of industrial data for March tomorrow and a weakening trend in Asian and European stock markets. They said the falling trend was capped following gains in IT stocks after the US-based Cognizant posted 16.6 per cent rise in net profit for the January-March quarter.

  • The Central Statistics Office (CSO) will issue data on industrial production for March 2013 tomorrow.

  • Crossing 6100 will take some more time, says Ashwani Gujral. Nifty may pause at current levels before moving ahead. The market has definitely found it difficult to hang on to higher levels for the last couple of days. In case the market is not able to hold onto those levels, then we reverse. So, these are make or break levels, he adds.

  • Nifty may not break 6100 mark clearly, says Sandeep Wagle. Till 5950 is broken on the downside, I would keep that as a stop loss, Wagle said.

NIFTY 3-Month

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