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Market Report

Friday, 14-Jan-2011


  • The markets were beaten down heavily today and both the benchmark indices broke their psychological support levels of 19000 and 5700, respectively. Pressure primarily came from interest rate sensitive sectors like banking, auto and realty. Buying was seen in FMCG and IT. The Sensex closed at 18860, down 322 points from its previous close, and Nifty shut shop at 5654, down 97 points.

  • The markets lost substantially this week and the negativity prevailed across all sectors. Both the benchmark indices lost more than 4% during the week. The numbers are following: the Sensex was down 4.3% and Nifty was also down 4.3%. The CNX Midcap index was down 3.3%, BSE Smallcap index was down 3.8% over the week.

  • If the Nifty trades above 5350, then long term trend of the markets would be positive, says Puneet Kinra of Bonanza Portfolio on CNBC Awaaz. For short term perspective 5725 is an important level and if it closes above that level, then buying opportunity would be there, he adds.

  • On Monday three large cap companies L & T, Axis Bank and TCS are coming out with their quarterly results and if any of these come out of with results lower than market expectations, it would have a negative impact on the markets, says Rajesh Jain, market analyst, on CNBC Awaaz.

  • We are trying our best to control food inflation and the current levels of food inflation is not acceptable, says Indian Finance Minister Pranab Mukherjee, reports NDTV Profit. We will be meeting state finance ministers on January 19 on price issue, he adds, says the channel. Volatility in global crude prices are affecting domestic oil prices and subsidising fuel prices will not help tackle inflation, says the Finance Minister, reports the channel.

  • Inflation for the month of December has come in at 8.43% versus 7.48%, reports CNBC TV18. October inflation has been revised to 9.12%, it adds. Primary articles inflation for December has come in at 16.46% versus 13% (MoM), fuel group inflation is at 11.19% versus 10.32% (MoM) while manufactured products inflation is at 4.46% versus 4.56% (MoM), it reports.

NIFTY 3-Month