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Market Report

Tuesday, 25-Jan-2011

NSE

  • The markets took sharp cuts today and it was banking sector that took the biggest plunge after the announcement of RBI credit policy. Other big losers include auto, realty FMCG and healthcare. The stocks of PSU oil marketing companies showed good gains in today's trade. The Sensex closed at 18969, down 181 points from its previous close, and Nifty shut shop at 5687, down 55 points.

  • In this negative trade it is some oil marketing companies like BPCL, IOC and HPCL that are showing positive moves and the reason is that they have differed the announcement of their results, says Rajesh Jain, market analyst, on CNBC Awaaz.

  • We expect the pace of rate hikes to pick up significantly in H1CY11 because of intensifying core inflation pressures, says Chetan Ahya of Morgan Stanley on CNBC TV18. In India, we expect policy rates to rise by 100 bps in 2011, having already risen 150 bps in 2010, he adds.

  • We expect the markets to trade rangebound and see the Nifty going up to 5850 and 5870, says Sudhanshu Pandey of FRR Shares and Securities on NDTV Profit. Resistances will be at 5865 and 5875 and, if the momentum continues, then the next level of resistance is seen at 5960, he adds. Selling onslaught may come in at higher levels which could bring the market down to 5400, he says.

NIFTY 3-Month