IntradayTrade dot Net dot IN
Market Report

Thursday, 24-Sept-2015


  • The S&P BSE Sensex ended 40.51 points, or +0.15 per cent, higher at 25,863.50 while the 50-share NSE Nifty index closed 22.55 points, or +0.29 per cent up at 7,868.50 today. The Nifty fluctuated in a 90-point zone between 7894.50 and 7804.10 in intraday trade today.

  • The domestic equity indices seesawed between minor gains and losses on Thursday before ending flat/marginally higher amid expiry of the September series futures and options contracts and churning of positions by traders. Reserve Bank of India's bimonthly money policy review next week also weighed on market sentiments, as traders stopped short of initiating fresh long positions because of the long weekend ahead. RBI is expected to cut key policy rates for a fourth time this year, as falling energy prices have cooled inflation and the economy slowed, a Reuters poll showed.

  • Nifty may not move beyond 7,500-8,000 in a hurry, says Ashwani Gujral. Markets need to cool off before you see the development of the next large pattern. So, I would not be surprised if Nifty stays in a range for the next six to eight weeks. The Nifty's 7,500-8,000 range will slowly narrow down to about 200-300 points. This ongoing volatility is not sustainable and we are getting initial signs of the volatility coming down. As far as Nifty is concerned, I do not think that it is really going to move beyond 7,500-8,000 range in a hurry, he adds.

  • October likely to be a quiet F&O series, says Mitesh Thacker. It seems that in the next few weeks, Nifty might not do much beyond a 300-point range, but since October will see kick start of earnings season, you might see some choppiness come as we approach the F&O expiry. But for the time being, Nifty should broadly be in 7,700-8,000 looks. Nifty might not do much; we advise investors to remain stock-specific for the next two weeks, he adds.

NIFTY 3-Month

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