MARKET 0UTLOOK 27 August 2012 by marketmagnify.com |
The markets lost moderately during the week. The Sensex was up 0.52% while the Nifty was up 0.38% during the week. |
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The markets lost moderately during the week. The Sensex was up 0.52% while the Nifty was up 0.38% during the week. Nifty is coming in the range of 5370-5480. In Nifty we can see the good support of 5370 in weekly chart. If Nifty break successfully the level of 5370 then we can see the down side level of 5340-5300.
From the global perspective, US stocks climbed on Friday on news the European Central Bank is considering setting targets in a new bond-buying program that could help contain euro-zone borrowing costs and on hopes of more stimulus from the Federal Reserve. Despite the day's advance, the S&P 500 broke a six-week string of gains. For the week, the benchmark index fell 0.5%. Conflicting perceptions of the Fed's commitment to provide more stimulus took a toll on the market this week. Investor sentiment received a lift on Friday from US Fed Chairman Ben Bernanke, who said the Fed has room to deliver additional monetary stimulus to boost the US economy. Bernanke made the comment in a letter to a congressional oversight panel. The letter comes a week ahead of the annual economic symposium at Jackson Hole, Wyoming, where Bernanke and ECB President Mario Draghi will speak. The market's gains were fairly broad. The S&P financial index rose 0.6%, with shares of American Express up 1.9% at USD 57.49. The S&P consumer discretionary index climbed 0.8%, with shares of Amazon.com up 1.9% at USD 245.74. During the session, Amazon's stock hit a lifetime intraday high of USD 246.87.The Dow Jones industrial average rose 100.51 points, or 0.77%, to end at 13,157.97. The Standard & Poor's 500 Index added 9.05 points, or 0.65%, to 1,411.13. The Nasdaq Composite Index gained 16.39 points, or 0.54%, to close at 3,069.79On the data front, new orders for durable goods, which are long-lasting US manufactured goods such as computers and aircraft, surged in July, even as declines in a gauge of planned business spending pointed to a slowing growth trend in manufacturing. The mixed data added to the market's uncertainty on whether the Federal Reserve will act soon to bolster the economy.
For the week, The Sensex was up 0.52% while the Nifty up 0.38% during the week. This week market will be volatile due to GDP Data.
NEWS AFFECTING INDIAN MARKETS
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