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Market Report

Thursday, 04-Dec-2014

NSE

  • The 30-share index ended at 28,562.82, up 120.11 points or +0.42 per cent. It touched a high of 28,808.78 and a low of 28,448.95 in trade today. The Nifty closed at 8,564.40, up 26.75 points or +0.31 per cent. It hit an all-time high of 8,626.95 and an intraday low of 8,526.40 in trade today.

  • The index had opened near all-time high level but pared some of the gains as the session progressed. A late recovery was led by index heavyweight ITC on reports that the government has deferred its earlier proposal to ban sale of loose cigarettes.

  • Subduded markets, but good to see PSU Bank stocks bouncing back, says Mitesh Thacker. Nothing much has changed. It has been same subdued market. I expect the market to continue that way. The only thing which is positive is that the PSU banking lot had a good pullback and they have come back strongly. Otherwise it looks like a market which is doing that 120 point kind of range, he adds.

  • I see the market slowly moving up, says Ashwani Gujral. Every day we close up 20 points or down 20 points. The market volatility is coming down.There is a lot of action outside the index and that is where you should be concentrating. You have to move from sector to sector. There is enough happening in the market. Make a good portfolio and keep hanging on to it. Have some banks, cyclicals, pharma, etc. Overall you can come out on the right side of the market, he says.

  • Don't see markets going below 8250-8300 levels, says Ambareesh Baliga. Stock specific action will continue and you will have only those stocks where there is momentum. In fact, money would be following into only those stocks and at the same time clearly it is a buy on dips market because I do not really see the markets going below 8,250-8,300 levels, unless that happens, clearly it is a buy on dips market, he says.

NIFTY 3-Month

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