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Market Report

Friday, 19-Feb-2016

NSE

  • The S&P BSE Sensex ended a choppy session with gains of 59.93 points or +0.25 per cent, at 23,709.15 today. The 50-share NSE Nifty50 also managed to squeeze out gains to close at 7,210.75 today, up 19.00 points, or +0.26 per cent. Both, the bourses have climbed 3.31 and 3.15 per cent, respectively, in the week. The BSE benchmark had gained 267.35 points on Thursday, while the Nifty50 had closed at 7,191.75, up 83.30 points, yesterday.

  • Markets ended marginally higher today, amid a rangebound trading session, led by select state-owned banks and auto shares while energy shares reversed early losses. The benchmark indices took strength from a strong opening in European market, after weak cues from other Asian and US markets sapped investors' sentiment in morning trade.

  • Nifty does look convincing, said Dr CK Narayan. On earlier occasions it would claw its way towards 7,200-7,210 and then quickly get rebuffed, but this time around it dropped very little and then managed to come up and sustain above 7,210. So that is the trading pattern and we should be long by now because we have been talking about a breakout buy, added Dr Narayan.

  • There was shortcovering and selective buying in select stocks, but traders were unwilling to extend positions. Market are likely to be volatile next week ahead of the Budget, says Mayuresh Joshi of Angel Broking.

NIFTY 3-Month

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