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Market Report

Tuesday, 08-Feb-2011


  • Selling pressure took its toll on the markets and forced both the benchmark indices to lose about 1.5% in a single trading session. Realty and capital goods led the rally of losers and other prime sectors like banking and auto also lost substantially in this downward trend. The Sensex closed at 17775, down 261 points from its previous close, and Nifty shut shop at 5312, down 83 points.

  • It is local investors that are the primary sellers in the markets and this selling is happening in anticipation that FIIs would sell now and that would bring the markets further down, says Ambrish Baliga of Karvy Broking on CNBC Awaaz.

  • The momentum of the market is still in a downtrend, says Jatinder Sharma, technical analyst, on CNBC Awaaz. We believe that 5300 should hold and the market could rebound from this level, he adds. He advises going long in the market only above 5440-5450.

  • In FY12, we expect GDP growth to decelerate to 8.2%, as consumption growth moderates, says Chetan Ahya of Morgan Stanley on CNBC TV18. He believes that curtailing expenditure growth to single-digit levels is critical if the government is to manage inflation risks.

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