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Market Report

Thursday, 26-Nov-2015

NSE

  • The S&P BSE Sensex ended the day with gains of 182.89 points, or +0.71 per cent, at 25,958.63 today while the 50-stock barometer Nifty50 closed at 7,883.80 up 52.20 points, or +0.67 per cent. Tata Motors and Sun Pharma were the top gainers on the BSE benchmark, up 5.6 and 4 per cent, respectively.

  • The domestic equity market traded with smart gains today bucking the muted trend seen in other Asian markets, ahead of the expiry of November F&O series, which expired at the end of the trading session today. The broader market also mirrored the gains seen on the benchmark indices with the BSE midcap and BSE smallcap indices ending the day +0.26 and +0.45 per cent higher, respectively.

  • Meanwhile, the sentiment cheered on the D-Street on hopes of the passage of the crucial GST bill during the winter session of the Parliament. Optimism seemed to seep into the markets after the Finance Minister said that he has spoken to Congress leaders on the GST bill to break a deadlock in parliament and is optimistic that the key reform measure will be passed in the winter session that started today. A firm opening in the European market amid rising prospects of further easing by the European Central Bank at a policy meeting next week uplifted the mood.

  • Broader market looks positive; all eyes on market breadth, says Mitesh Thacker. The broader market still looks positive to me. Most stocks are giving good breakouts and are seeing follow up gains. That is where we will trade with a long bias. In case, we start breaking below 7,800, then we will take a fresh call on one cutting down our long positions as well as initiating some aggressive short positions, he says.

  • Expect Nifty50 to trade in 7,800-7,920 range, says Sandeep Wagle. For Friday, I expect the market to remain sideways with a positive bias. Levels of 7,800 to 7,920 on the Nifty50 would be my range, says Wagle.

NIFTY 3-Month

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