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Market Report

Wednesday, 05-Nov-2014

NSE

  • The Nifty extended its winning streak for the sixth consecutive session and closed at an all-time high as FII/FPI inflows continued on hopes of pick-up in economic growth in coming quarters. The 50-share index ended at an all-time closing high of 8,338.30, up 14.15 points or +0.17 per cent. It touched an all-time high of 8,365.55 and an intraday low of 8,323.50. The S&P BSE Sensex ended at all-time closing high of 27,915.88, up 55.50 points or +0.20 per cent. It touched an all-time high of 28,006.60 and an intraday low of 27,886.50.

  • Foreign institutional investors remained buyers for the fifth straight session today after they bought equities worth Rs 1,413.34 crore on Monday and Rs 1,030.85 crores today, as per stock exchange data. See our 'Market Statistics' page. Slew of economic reforms recently announced by the government along with decline in global crude oil prices aided the buying interest of the investors.

  • Analysts at top brokerage firms firmly believe that we are in a bull market, which will take the Sensex and the Nifty to fresh record highs for the rest of the year as well and in the next 12 months. The index is well on its way to hit the 30,000 mark by the December-end and probably 35000 levels by the end of 2015.

  • Indian market is in for a big bull run, says Hemang Jani of Sharekhan. A lot of things are falling in place for us. Some kind of a correction can come through. We have seen that happen in the last five to six months, but in trying to fine-tune this to perfection, we are actually missing out on a much bigger opportunity at hand. You may use any correction to buy into it, but first put a substantial amount at work so that you can participate in the bigger upside, he says.

  • RBI won't take a call on cutting rates before April, says Murthy Nagarajan of Quantum AMC. The divestment programme has to kick in. We are having a 5% growth till date on direct tax collection. So there are a lot of imponderables and the RBI would look through that and maybe by March, we will get the number whether we are able to achieve that 4.1% fiscal deficit target or not and accordingly, we expect in the month of April, the RBI will take a call on cutting rates, he says.

NIFTY 3-Month

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