IntradayTrade dot Net dot IN
Market Report

Friday, 04-July-2014


  • Sensex, the BSE benchmark, opened higher at 25,844.80 and firmed up further to a high of 25,981.51 today. It settled at new closing high of 25,962.06 -- a gain of 138.31 points or +0.54 per cent. It surpassed previous closing peak of 25,841.2 (July 2). For the week, Sensex gained 862.14 points -- first rise in four.

  • The NSE 50-share Nifty also moved up 36.80 points, or +0.48 per cent, to end at its all-time closing high of 7,751.60 after hitting an all-time high of 7,758.00 in intraday. It previous closing peak of 7,725.15 was also reached on July 2. Today's gains were led by oil & gas shares, on buying by overseas investors on hopes of continued economic reforms and a growth-oriented Budget.

  • The market was supported by gains in bluechips, traders said, adding that receding fears of the impact of a delayed monsoon on prices and strong global cues after upbeat US data and easing oil prices boosted market sentiments. Blaming hoarders for recent spurt in food prices, Finance Minister Arun Jaitley today said there was no need for panic as country has enough food stocks and promised stern action against black marketeers.

  • Markets looking at 7840-7850 as a first target, says Yogesh Mehta of Motilal Oswal Securities. The euphoria is very much there and everyone is on a buoyancy ride. Retail participation and FII participation are increasing. But ahead of the Budget now it seems that there is a cautious mood. Probably the market is looking at, at least 7840-7850 as a first target. Everything is priced in now, he says.

NIFTY 3-Month

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