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Market Report

Thursday, 13-Jan-2011


  • The markets were weak throughout the day and primarily it was IT and banking that pulled it down. Realty was the only sector that could manage to close in the green. The Sensex closed at 19182, down 351 points from its previous close, and Nifty shut shop at 5751, down 111 points.

  • The market is trading rangebound with 5700 on the downside and 6200 on the upside, says Sudhanshu Pandey of FRR Shares and Securities on NDTV Profit. There is initial support for the Nifty at 5700-5690 with second support at 5400 and 5200, he adds. He expects resistances at 5960-6070-6338-6357 and sees the current volatility as an opportunity to buy on dips.

  • The market has been volatile as investors grappled with various factors, says Manishi Raychaudhuri of BNP Paribas Securities on CNBC TV18. He believes that given the numerous headwinds, the market's ability to sustain its current valuation is predicated on continued superior revenue and earnings growth. Any earnings disappointment may trigger a sharp correction, particularly as other headwinds like inflation and interest rates seem to be intensifying, he adds.

  • Inflation Update: Primary articles inflation for week ended January 1 has come in at 17.58% versus 20.20% (WoW), food articles inflation is at 16.91% versus 18.32% (woW) while fuel group inflation is at 11.53% versus 11.63% (WoW), reports NDTV Profit.

NIFTY 3-Month