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Market Report

Friday, 27-Feb-2015

NSE

  • The Sensex settled the day at 29,220.12, up 473.47 points, or +1.65 per cent. The broader 50-share Nifty closed at 8,844.60 today, up 160.75 points, or +1.85 per cent.

  • Benchmark indices ended on a robust note today after Economic Survey which was tabled earlier today estimated India's FY16 GDP growth between 8.1% and 8.5%, adding that double-digit growth trajectory is now a possibility while FY15 GDP growth seen at 7.4%. Further, heavy buying by the market participants ahead of the Union Budget tomorrow lifted the trading sentiments.

  • FIIs and FPIs continue to invest heavily in the Indian stock market ahead of the Budget. After what we said in this column yesterday, foreign investors were net buyers of stocks worth Rs 1957.10 crores today. See our 'Market Statistics' page. Will this level of investment continue after the Budget? Depends on what their expectations are and whether our Budget will satisfy these expectations. Time will tell.

  • Nifty might head towards 9000 sooner than expected, says Mitesh Thacker. We will trade with some kind of long bias heading into tomorrow. Today's price action kind of confirmed the same. If the Nifty manages to scale past levels of 8900, there is a good chance that we might give 9000 a shot quicker than expected. We can also possibly head towards 9150. It will all depend upon how the trade pans out tomorrow. For the short term 8900 would be a trend decider on the upside. Strength beyond that should add on to the momentum, he adds.

  • Bank Nifty likely to lead the next rally, says Ashwani Gujral. There is a good chance that the market has bottomed out. It appears that Bank Nifty is likely to lead the next rally because that is clearly outperforming. Overall the market looks good and it is well corrected. Chances are that an average budget will not hurt it too much, he says.

  • Our markets are open full-day tomorrow. Here is what experts say about trading on Budget-day:

    Budget day is highly significant for markets. It has been observed in the past that the volatility on the day of Budget is quite high. Changes announced could impact sectors and companies. This volatility is on account of a mix of emotions, sentiments, deviation from expectation and analysis of proposed amendments in the Budget. Thus, it is recommended that in a Budget-day the investor should play cautious and stay away from those sectors/stocks that are expected to be impacted negatively. Analysts advise investors not to chase high beta stocks and do a thorough analysis before making a decision. Avoid making ad-hoc investments that are regretted late. Next week would present buying opportunities for rational value investors who go by concrete information, rational analysis and buy below intrinsic value.

NIFTY 3-Month

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