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Market Report

Tuesday, 14-May-2013

NSE

  • After a better start, the Sensex fell to the day's low of 19,652.69 before ending with a gain of 30.62 points, or +0.16 per cent, to close at 19,722.29 today. With the general firming trend, the broad-based National Stock Exchange index Nifty rose by 14.95 points, or +0.25 per cent, to end at 5,995.40 today. The MCX-SX flagship index SX40 closed 17.20 points up, or +0.15 per cent, to 11,679.54 points.

  • Brokers said the buying activity was mostly confined to banking and healthcare sectors as inflation eased to over three years low. Softening food prices pulled down inflation to over three year low of 4.89 per cent in April, giving RBI space to further ease interest rates. The market also improved on speculators covering their pending short positions created in the previous session's steepest fall in one year, traders added.

  • The Nikkei share average edged down today, after two gaining days, as interest rate-sensitive sectors such as real estate and financials succumbed to signs of rising long-term interest rates. European shares were trading lower today as investors remained cautious ahead of data on German investor confidence and industrial production in the euro-zone.

  • Nifty set to breakout above 6500 in 2014, says Vineet Bhatnagar of Phillip Capital. The grapevine continues to be that the FIIs want to be biased towards the long side of the market, says Bhatnagar.

  • Opportunity of correction healthy for market, says Dilip Bhat. Markets had really moved one way without any let up, so all the negative data was being absorbed and markets were just going up. So it was just one of those days which really provided a good correction which was very healthy for the market in a way, he says.

  • Market has lost momentum, says Ashwani Gujral. Today's sideways is pretty much expected once you have a 130 point gash and that should not be taken as a sign of strength, he warns.

  • Bullish only if 6040 level is crossed, says Sandeep Wagle. I will be bullish only if 6040 is crossed on the upside and if you talk of the Nifty futures, I would take a short at this level, he adds.

NIFTY 3-Month

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