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Market Report

Wednesday, 12-Nov-2014

NSE

  • The Sensex closed the day at 28,008.90, up 98.84 points or +0.35%. The Nifty ended the day at 8,383.30, up 20.6 points, or +0.25%. Our markets came off their record highs today with the Nifty topping 8,400 and the Sensex ended above 28,000 for the first time led by financials.

  • Analysts say we should not expect a big-bang rally in 2015. The Sensex and the Nifty have rallied over 32 per cent so far in the year 2014, but a similar performance next year might be a little difficult as a lot of positives are already being factored in the price. Most analysts expect the market to rally probably by 10 per cent to 15 per cent, while some even expect a negative or flat return for the year 2015.

  • Expect Nifty to breach in 8,500 in the near term, say experts. Outlook for markets is positive in the near-term and experts doesn't see any significant fall in the markets going forward. But monetary easing won't be easing going ahead. They are of the view that there is very limited room for the RBI to cut interest rates.

  • Globally, Asian markets were flat today, but Japanese stocks gained as investors gave the thumbs-up to a media report that Prime Minister Shinzo Abe will delay a second sales tax hike to avoiding damaging Japan's economic recovery, and call a snap election to cement his position. European stock markets are dropping after opening flat.

  • Remain bullish, but it will be tough to make money in this market, says Mehraboon Irani of Nirmal Bang Securities. It is a stock pickers market from now on. Quite a few stocks have gone up on valuations at the moment which are absolutely rich but not justified. If you chase momentum, you make money in the short term. But, if you are buying the wrong stock and making money in the short term, years later the stocks could be much lower than where they are today. It is not going to be easy, though we continue to be in a bull market, he says.

  • After market hours today: India's industrial growth for September came in at 2.5% versus a revised 0.4% for August and retail inflation for the month of October dipped to 5.52%, down from 6.46% in September, a decline that is likely to sharpen calls for interest rate cuts by the Reserve Bank of India, as per data released by the govt today. Both should be big positives tomorrow.

NIFTY 3-Month

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