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Market Report

Wednesday, 19-Jan-2011

NSE

  • The markets closed with moderate declines today and primarily it was IT that pulled the markets down. Realty and metal showed strong gains and closed with the gains of more than 2%. The Sensex closed at 18978, down 113 points from its previous close, and Nifty shut shop at 5691, down 33 points.

  • The market is likely to trade in a range of 5600 and 5800 till this expiry, says JK Jain of Karvy Stock Broking on NDTV Profit. Stock specific action is expected, he adds.

  • The market is cautious on the back of a couple of major events coming up, like the RBI Credit Policy on January 25, says Anil Singhvi, market analyst, on CNBC Awaaz. Therefore, the upside appears capped at 5750-5800, he adds.

  • The Nifty has conclusively broken below the short-term uptrend support drawn off the late November 2010 lows which should result in a thorough test of the 5300-5500 support zone in the near-term, says Laurence Balanco of CLSA on CNBC TV18.

NIFTY 3-Month