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Market Report

Thursday, 10-Mar-2016


  • The S&P BSE Sensex ended at 24,623.34 today, down 170.62 points or -0.69 per cent while the NSE's Nifty50 closed at 7,486.15 today, with a loss of 45.65 points or -0.61 per cent. A large part of the market witnessed heavy selling through the day as investors booked profits at higher levels. Yesterday, the 30-share Sensex had closed at 24,793.96, up 134.73 points, while the 50-share Nifty50 had settled at 7,531.80, up 46.50 points.

  • Domestic equity benchmark Sensex snapped a six-day post-Budget rally and ended lower today, as investors turned cautious ahead of the European Central Bank meeting scheduled for later today while some investors grew unsure if the huge rally had lifted the market too much too fast. The Nifty50 had bounced back sharply after hitting its crucial support of 6,800-7,000 levels in quick time and unless something drastic happens globally, Nifty50 is unlike to retest this level anytime soon, say experts.

  • There are not many domestic triggers. The Budget was the last tangible trigger. So the only thing that mattered for the market for a while now has been flows, mostly FII flow. The market takes its direction completely based on global cues as well as global flows, say experts.

  • After market hours: ECB cuts rates, expands asset-buying programme to boost economy. The European Central Bank delved deep into its remaining arsenal of stimulus options on Thursday, cutting all three of its interest rates and expanding asset-buying to boost the economy and prevent ultra-low inflation becoming entrenched.

NIFTY 3-Month

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