IntradayTrade dot Net dot IN
Market Report

Friday, 04-Mar-2016


  • The BSE Sensex closed at 24,646.48 today, up 39.49 points or +0.16 per cent. The NSE's Nifty50 held on to the psychologically crucial 7,450 mark and closed flat at 7,485.35, up 9.75 points or +0.13 per cent, after profit booking capped upside gains. The Nifty50 crossed past the crucial Resistance level of 7,500 at least twice during today's session.

  • Benchmark share indices logged their best weekly gains in seven years in absolute terms and best in four years in percentage terms as foreign investors turned aggressive buyers after the Budget maintained the path to fiscal prudence and focus on rural and infrastructure sectors to boost the economy.

  • In a late development, Wall Street was lower tonight after the data showed US economy added more jobs than expected in February, easing concerns about a recession and suggesting there was room for the US Federal Reserve to gradually raise interest rates this year.

  • The next target for Bank Nifty would come somewhere near the 15,700 mark, said Dr CK Narayan. That leaves us with sufficient room to get into Bank Nifty now. We should continue to be a buyer in Bank Nifty rather than Nifty50, said Dr Narayan.

  • I think in the runup to the budget, the market was anticipating some negative developments, so there has been a sense of relief after the budget, which looked more realistic, said Hemang Jani of Sharekhan. So, the sense is that what we are getting is a bit of relief rally, he added.

NIFTY 3-Month

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