Yesterday Market Summary

Last trading day: Thursday, 17 December

 It was another dull and quiet day on the market that closed in the negative today. But there was lots of buzz about extension of trading hours with heavy debate among brokers and various polls seeking more opinion on the issue. Sensex shut shop at 16894, down 18 points and Nifty at 5041, flat from the previous close. CNX Midcap index was up 0.86% and BSE Smallcap index was up 0.88%. The market breadth was positive with advances at 778 against declines of 486 on the NSE. Top Nifty gainers included HCL Technologies and Cipla while losers were DLF, Unitech and BPCL. 

 If Nifty breaks below 4950 there could be a big selloff, says Ashwani Gujral, technical analyst, on CNBC TV18. If it crosses 5050 then there could be a short covering rally that could take it to 5120-5130, he says. The market is most likely to be stuck in a range and give large moves only in January, he adds.  

 Am not an expert on market timings but am urging finance ministry to look into the matter as I represent the broking community of South Mumbai which is upset with the trade timings move, says Milind Deora, Congress MP of South Mumbai, on NDTV Profit. Brokers are upset because of the fight between the two exchanges and feel they are getting a raw deal, he says. There should have been a consultative process with brokers before a decision is taken, he adds.