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Market Report

Thursday, 10-Dec-2015

NSE

  • The S&P BSE Sensex gained 216.27 points, or +0.86 per cent, to end at 25,252.32 while Nifty50 climbed 70.80 points, or +0.93 per cent, to close at 7,683.30 today.

  • Markets which had hit three month low after losses in the previous six straight sessions, rebounded to end higher amid value buying and short covering in index heavyweights led by RIL. Till yesterday, the Sensex had lost over massive 1,100 points as hopes of US Federal Reserve rate hike coupled with concern over the clearance of the GST bill in the Parliament dampened the sentiments.

  • The bounce-back can extend to 7,700-7,720, said Sandeep Wagle. Today's low has made some kind of a double bottom in the intraday sense and probably, for the next day or two, there is a very clear case for a bounce back, where one can go long on individual stocks, and the Nifty50 can give you a 50-70 point bounce-back, he says.

NIFTY 3-Month

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