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Market Report

Friday, 12-Aug-2016


  • The Sensex reclaimed the 28,000 mark, before ending the day at 28,152.40 today, up 292.80 points or +1.05 per cent. The Nifty50 topped the 8,650 mark before closing at 8,672.15 today, up 80.00 points or +0.93 per cent.

  • Today's movement was a combination of good global cues supported by short covering. Additionally, better-than-expected results from SBI added to the buoyant market mood. Markets will consolidate and then move up over the next several weeks and the bias is clearly positive, said experts.

  • The domestic market began the day on a steady note and then got a 300-point booster shot after top public sector bank, State Bank of India sent the adrenaline rushing among investors. The S&P BSE Sensex opened about 100 points higher today while NSE's Nifty50 was comfortably above the 8,600 level. In overnight trade, US markets had rallied to record highs. So, the stage was pretty much set for a good session on Friday.

  • Experts, however, believe the market lacks triggers and may be heading for a fall. There has been quite a healthy traction in the domestic economy and that will help to drive earnings growth going forward, said Nitasha Shankar of Yes Securities. But there are no major domestic triggers in the near term. Therefore, we could see profit booking from time to time, but these would actually give you a good opportunity to accumulate quality stocks, added Shankar.

NIFTY 3-Month

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