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Market Report

Tuesday, 26-Oct-2010

NSE

  • The markets were range-bound with negative undertones throughout the day. Metal was the worst performer in today's trade followed by banking, power and realty. Consumer durables and FMCG showed good performance. The sensex closed at 20221, down 81 points from its previous close, and Nifty closed at 6082, down 23 points.

  • Speaking to NDTV Profit, Gaurang Shah of Geojit BNP Pariba believes that the markets would remain range bound with 6020 on the lower side and 6130-6200 on the upside. This range would continue till the 1st to 2nd week of November and then it would take upward move. More stock specific action would take place rather than the whole index is moving, he adds. If there would be some negative action from foreign markets or FIIs, the market could see the downside of 5880 also.

  • If the market holds the levels of 6050 and 6100 then we could expect expiry at around 6180-6200, says Sailav Kaji of Padmakshi Financial Services on NDTV Profit. There are still shorts existing in the system, he adds.

  • Economy is regaining its growth momentum and the recovery is broad-based across industries, services and the agri sector, says Finance Minister Pranab Mukherjee at an eco editors' conference, reports NDTV Profit. He expects the economy to grow 8.25-8.75% in FY'11 and hopes to meet FY'11 fiscal deficit aim of 5.5% of GDP and intends to have a gradual exit from stimulus. He adds that food prices remain the key driver of inflation, says the channel.

NIFTY 3-Month