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Market Report

Friday, 28-Jan-2011

NSE

  • The markets took sharp cuts today and not a single sector was spared from the beating. Realty, auto, capital goods and consumer durable were the prime losers of today's trade and broader markets were equally beaten down. The Sensex closed at 18395, down 288 points from its previous close, and Nifty shut shop at 5512, down 92 points.

  • 5450-5350 is an important range for the Nifty and if the index breaks this range in the downside then it would go into long term downtrend, says Puneet Kinra of Bonanza Portfolio on CNBC Awaaz. An investor can take long position in the index keeping 5450 as stop loss for a target of 5620.

  • The reason markets are taking a downward trend is that investors are shying away from the markets, says Rajesh Jain, market analyst, on CNBC Awaaz. The investors are thinking that markets would come down further so why invest now, he adds.

  • Despite high inflation, growth should remain resilient, says Manishi Raychaudhuri of BNP Paribas Securities on CNBC TV18. Companies with strong pricing power and sectors with low price elasticity of demand like tobacco & liquor, power utilities and companies geared to global recovery like IT services, appear relatively safe in the present scenario, he adds.

NIFTY 3-Month