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Market Report

Wednesday, 05-Aug-2015


  • The S&P BSE Sensex closed the session up 151.15 points, or +0.54 per cent, at 28,223.08 today. The 50-share Nifty index finished trading up 51.05 points, or +0.60 per cent, to close at 8,567.95 today. We are back in positive territory after one day of losses triggered by the RBI status quo.

  • In a significant development, IT stocks such as Infosys, Tata Consultancy Services and Wipro surged, thanks to firming US dollar amid rising expectations of an interest rate hike by the US Federal Reserve in its forthcoming September policy review. The market sentiment was also boosted after a private survey, which suggested a recovery in services industry (PMI) in July.

  • Globally, most Asian markets ended on a mixed note. China's Shanghai Composite ended in red, down -1.65 per cent, but bucking the weak trend, Japan's Nikkei finished trading up +0.46 per cent. Major European markets were quoting in the green, when last reports came in.

  • Nifty may find it difficult to break above 8,650 in next few sessions, says Mitesh Thacker. The indices are positively biased and, if CNX IT buy signal succeeds in the short term, then it could lead the rally on the upside. May be if Nifty can pick up from here, then it can rise to 8,650 and even break that level. We might see further momentum. But, for the time being, it looks like 8,650 on the index could be a tough level for the index to get past in the next few days, he says.

NIFTY 3-Month

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