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Sunday 3 November 2013
Mahurat Trading: Nifty nearing all-time high
The Sensex is up 80.63 points at 21277.44, and the Nifty up 24.85 points at 6332.05. About 414 shares have advanced, 79 shares declined, and 11 shares are unchanged.
Sanju Verma, group chief executive officer, Violet Arch feels the market is currently polarised between smart money and hot money. She believes that 6400 or 6500, at those levels the market will tire itself out and 6400 looks likely in near term. However, Raamdeo Agarwal, Joint MD, Motilal Oswal Financial Services sees correction in the middle of November. Now the mood is building up for state election results, he adds. Nearly Rs 5,000 crore worth of shares were bought by foreign institutional investors during the week while the month gone by saw FII buying of Rs 18,000 crore, highest since February 2013.
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