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Market Report

Thursday, 03-Feb-2011

NSE

  • The markets showed strong gains today and both the benchmark indices gained about 2% in the session. Strong buying was registered in realty sector and capital goods, banking and metals also closed with good gains. Most of the Asian markets were closed today so not much impact was seen from those markets. The Sensex closed at 18449, up 358 points from its previous close, and Nifty shut shop at 5526, up 94 points.

  • Nifty can see the level of 5580 and then 5620, says Vijay Bhambvani of BSPL India on CNBC Awaaz.

  • It appears that a majority of the fall is over and now the market is close to a bottom at which it will trade for some time, says Deven Choksey of KR Choksey on CNBC TV18. We could expect a bounceback to around 5700-5800 in the next 4-5 weeks but there is skepticism about the volume of participation in this rally, he adds.

  • Inflation: Primary articles inflation for week ended January 22 has come in at 18.44% versus 17.26% (WoW), food articles inflation is at 17.05% versus 15.57% (WoW) while fuel group inflation is at 11.61% versus 10.87% (WoW), reports CNBC TV18.

NIFTY 3-Month