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Market Report

Tuesday, 31-Mar-2015


  • The 30-share Sensex finally closed at 27957.49 today, down 18.37 points or -0.07 per cent. It touched a high of 28,180.64 and a low of 27,868.21 in trade today. The Nifty ended at 8491.00 down 1.30 points or -0.02 per cent. It touched a high of 8550.45 and a low of 8454.15 in trade today. On the last day of the financial year 2014-15, markets ended marginally lower after paring early gains on losses in select index heavyweights and bank shares despite the strong showing by select oil and pharmaceutical stocks.

  • The S&P BSE Sensex on Tuesday ended flat, but posted its biggest fiscal-year gain in six years mainly driven by surge in foreign inflows after the Narendra Modi-led government took charge. The benchmark BSE index has gained +24.89 per cent in 2014-15, its best since 2009-10 on bets that the Prime Minister Narendra Modi-led government would be able to revive growth in Asia's third-largest economy. While, the 50-share NSE index rose +26.65 per cent in the same period.

  • Says Mudit Goyal of SMC Global: We have seen decent buying from lower levels. Overall, the Nifty has breached its 100-EMA on daily charts while also managing to trade above the same, which gives the positive outlook for the coming days. One should buy on dips. Investors can initiate long positions around Nifty 8,450-8,470 levels for the upside target of 8,640 levels in the near term.

  • Volatility to rise as Nifty heads toward 8600, says Mitesh Thacker. One leg of the upmove appears to be over for Nifty. But, the 50-pack index failed to get pass 8525 on Tuesday. The said level was Nifty's 10-day average. There are now good chances that the NSE barometer index might retest levels of around 8380-8400. You may see some reversal once Nifty comes closer to 8400 levels. We will see choppiness in the next few days as Nifty heads higher to levels of 8600, he says.

  • Nifty to trade in a range of 8350-8550, says Ashwani Gujral. We are going to move sideways till we see some sort of macro-economic push. Levels of 8500-8550 on Nifty will take some crossing. Till then, Nifty should remain in a range of 8350-8550. Meanwhile, we have an extended weekend going ahead. Thus, there are good chances that benchmark indices may trade in a narrow range on Wednesday, he says.

  • After market hours: India's February infrastructure output growth (IIP) dips to a low of 1.4%. Decline in output of crude oil and natural gas pulled down the growth of eight core industries to 17-month low of 1.4% in February. The output had expanded by 6.1% in February 2014. The growth was 1.8% in January 2015. The previous low logged by the core industries was in October 2013 at (-)0.6%.

NIFTY 3-Month

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