Europe lights hope on listless mkt: Udayan

CNBC-TV18, managing editor, Udayan Mukherjee expresses disappointment as the day's market session remains as listless as it was on Wednesday.

"The Nifty has done nothing today. It's been a stable session of trade, you have to grant it that. But its not made too much headway, moving up just about 20 points. The midcaps haven't done particularly well today, so it's been another boring session of trade," he says.
He shines a ray of hope as he turns his attention to Europe where the markets have been stable and are being closely tracked by the Indian market. Below is an edited transcript of Udayan's wrap-up on CNBC-TV18. Also watch the accompanying video.
The Nifty has done nothing today. It's been a stable session of trade you have to grant it that but its not made too much headway, moved up just about 20 points. The midcaps haven't done particularly well today, so it's been another boring session of trade.
The volumes are high because the expiry is not very far. There has been no great thrust on volumes either.
Europe is stable, but that market has just started moving around a little bit and the Indian markets have begun tracking European markets closely during this afternoon.
It's similar to the range bound trading session witnessed yesterday with all eyes on Europe.
With the same number of advancing and declining companies, the midcap index has been flat through the session. So the breath is a little disappointing. The Nifty is up 20-30 points and I don't think it will find momentum in the market.
Most people in the market are talking about an expiry between 5,300-5,400 next week, that's probably what the Nifty is headed towards on current reckoning.
So, it's a listless market and post the policy, the market clearly has not taken off. Maybe the market is slowly inching towards the 5,380-mark where it turned from last time around.