IntradayTrade dot Net dot IN
Market Report

Thursday, 05-Mar-2015


  • A fag-end recovery in key frontline heavyweights led to a positive close for Indian markets after a day's breather with the benchmark Sensex gaining 68.22 points, or +0.23 per cent, to end at 29,448.95. The Sensex resumed marginally up at 29,436.77 and hovered between 29,518.32 and 29,162.47 today. The NSE barometer CNX Nifty also edged up by 15.10 points, or +0.17 per cent, to settle at 8,937.75 today.

  • It was a lacklustre session for the markets generally after yesterday's 213-point drop in the Sensex. The surprise rate cut had powered the index to top 30K for the first time in its history but profit-booking played spoilsport. However, continued profit-taking in counters like metal, capital goods, IT, and consumer durables capped gains today.

  • The sharp sell-off in benchmarks despite a rate cut has made traders a nervous lot. While the main indices have pulled-back from day's low today, traders are averse to holding positions ahead of the truncated week. Analysts tracking the market are of the view that Nifty has formed an intermediate top of 9,100 and it is unlikely to be breached again in a hurry. The market is likely to consolidate in the short-term with a negative bias before bulls make an attempt reclaim the all-time high.

  • Globally, Asian stocks firmed up on Friday after the European Central Bank said it would soon start its bond buying program. Shares in Japan hit fresh 15-year high.

NIFTY 3-Month

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