Mumbai: It was another boring session for the Indian equities on Thursday due to lack of any major global and domestic cues. The Sensex fell 22 points, to close at 15,859.99 and the Nifty was almost unchanged at 4750.20.
The Nifty remained in a range around the 4750 level, which started on a positive note with moderate gains but gave up gains in the last couple of hours of trade.
Sudarshan Sukhani of s2analytics.com feels that we are still in a trading range. This 100-point range makes the Nifty's future direction clear. "The 100- point in which the Nifty is moving is a no trade zone. Once we move above or below that level there is significant trading available to us," he says.
Ambareesh Baliga, chief operating officer of Way2Wealth says, till the earnings are announced, the market will remain range-bound. In January, all listed companies will announce their results for the quarter ending December 31, 2011.
There was positive news for the market that inflation has been cooling off. It raised hopes that the Reserve Bank of India may cut interest rates in the forthcoming policy meet, which is to be scheduled on January 24.
Food articles inflation turned negative 3.36 per cent in the week ended December 24 as against 0.42 per cent in the previous week and even primary articles inflation fell at 0.1 per cent versus 2.7 per cent during the same week. However, fuel group inflation moved up a bit at 14.6 per cent as against 14.37 per cent during the period.
Comments
0 comment