Market Watch

Here is a brief summary of the markets' performance today. Realty, technology, oilspace led the decline while banks, capital goods showed resistance. After showing a relatively strong performance throughout the day, markets showed volatility during the closing hours.

National Stock Exchange’s Nifty ended at 5754.10, down 8.75 points or 0.15 per cent. The broader index touched a high of 5842.60 and low of 5698.20 intraday.

Bombay Stock Exchange’s Sensex closed at 19196.34, down 27.78 points or 0.14 per cent. The 30-share index touched a high of 19431.56 and low of 19003.60 in today’s trade.

“After having corrected around 400 points on the Nifty, the market looks oversold. Technical indicators suggest a bounce back in next 4-5 trading sessions and Nifty may touch 5920-5930 levels. We expect a correction to set in after that and the Nifty may slip to strong support of 5690-5700. Traders should adopt ‘sell on bounce’ strategy in this market,” said Ashish Shroff, technical analyst, Ambit Capital.