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Market Report

Monday, 03-Jan-2011

NSE

  • The first day of the new year was moderate for Indian markets as both the benchmark indices gained only around one-fourth of a percent. Buying was seen in metal stocks and the sector gained more than 2% in a single day. Other gainers were banking and pharma sectors. ADAG stocks also performed well today. IT and auto sectors remained under pressure despite good numbers posted by Bajaj Auto in the third quarter. The Sensex closed at 20561, up 51 points from its previous close, and Nifty shut shop at 6157, up 23 points.

  • The market has broken out of a trading range of 5700 and 6100 and we expect participation to increase in the first week of January, says K Anant Rao of Kurtosis Analytics & Advisors on NDTV Profit. The Nifty level of 5950 is an important one on the weekly charts, he adds. He does not rule out a 2-3% correction from the current levels.

  • The Indian market has outperformed its global peers, come out of a trading range and is likely to do well going ahead, says Anil Singhvi, market analyst, on CNBC Awaaz.

  • We expect 2011 to be a choppy year for emerging markets and they may face serious macro economic issues, says Adrian Mowat of JP Morgan on CNBC TV18. Global investors are concerned by the numerous scams and politics which have plagued India and its decision making process is being delayed due to the emergence of these scams, he adds.

  • November Trade Data: Trade deficit is at $8.9 billion versus $10.1 billion (YoY), imports is up 11.2% at $27.8 billion (YoY)while exports is up 26.5% at $18.9 billion (YoY), reports NDTV Profit.

NIFTY 3-Month