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Market Report

Friday, 05-July-2013

NSE

  • Sensex, the 30-share index, commenced the day's trade on a bullish note at 19,616.89 but lost most of the early gains and settled just 84.98 points, or +0.44 per cent higher at 19,495.82 today. Sensex had gained over 233 points yesterday. Similarly, the wide-based National Stock Exchange index Nifty gained 30.95 points, or +0.53 per cent, to close at 5,867.90 today led by gains in bluechips and on sustained buying by funds on some capital inflows, amid a firm trend overseas.

  • Brokers said the market remained firm as market heavyweights Reliance Industries surged and Hindustan Unilever climbed to record high after Anglo-Dutch parent company Unilever Plc said it has increased its stake in it. A firming trend on other Asian bourses and higher opening in European markets as investors awaited data on the US job data also boosted the trading sentiment here, they added.

  • Markets gained for the second straight day but ended off their day highs as investors turned cautious and booked profits at higher levels on concerns that the US Fed may tone down its monetary stimulus measures if the jobs data, due for release later today, is better-than-expected.

  • Nifty likely to cross 5900 levels, says Ashwani Gujral. We are in some sort of an upswing and we need both global and local help to move forward. Chances are we will go past 5900, says Gujral.

  • Nifty on mild uptrend with 5750 as new base, says Mitesh Thacker. I would be looking at possibility of this being a range shift on the upside. So, 5900 to about 5920 would be the important level, he adds.

NIFTY 3-Month

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