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Market Report

Tuesday, 28-May-2013

NSE

  • The 30-share index, Sensex, which had gained 356 points in the last two trading sessions, saw volatile trading but advanced by 130.05 points, or +0.65 per cent to close at 20,160.82 today. This is Sensex's highest closest since 20,223.98 on May 20. The 50-share National Stock Exchange index, Nifty, regained the key 6,100 level after a gap of nearly a week by rising 28.10 points, or +0.46 per cent, to close at 6,111.25 today.

  • Union Finance Minister P Chidambaram today said that regardless of any government at the Centre the country will grow by 5-6%, but to reach the brisk rate of 8 or 9% effective governance is needed.

  • Japan's benchmark share index Nikkei rose on Tuesday, with investors picking up recently battered stocks as the market regained a degree of stability after the extreme volatility of the past few days. European shares continued to trade firm on hopes that global central banks would continue their stimulus measures to boost economy.

  • Consolidation expected on Nifty, individual stocks will take over, says Sandeep Wagle. I expect some kind of a consolidation and individual stocks will take over, you can get stocks on both sides so it will be stock specific play over the next couple of trading session, he says.

  • As long as Nifty is above 6050-6040, trade on the long side, says Mitesh Thacker. As long as we do not start breaking below those support areas around 6050-6040 I would be fairly comfortable in trading mostly on the long side, says Thaker.

NIFTY 3-Month

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