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Market Report

Friday, 11-Feb-2011

NSE

  • The markets registered impressive growth today with buying coming from all sectors. Midcap and smallcap stocks gained the most and barring IT, all sectors closed in the green. The Sensex closed at 17728, up 265 points from its previous close, and Nifty shut shop at 5310, up 84 points.

  • The markets remained inconsistent this week and overall it was negative trend that had upper hand during the week. Both the benchmark indices and all sectoral indices closed in the red and the numbers are following: the Sensex was down 1.6% and Nifty was also down 1.6%. The CNX Midcap index was down 2.4% while BSE Smallcap index was down 6.2% over the week.

  • The Nifty may see the level of 5350-5400 on the upside and on the downside it can go to the level of 5225, says Puneet Kinra of Bonanza Portfolio on CNBC Awaaz.

  • We are likely to see a pullback from here which could take the Nifty up to 5500 and all the way up to 5800, says Somil Mehta of Sharekhan on NDTV Profit. The market is providing good buying opportunity with crucial support in the short term at 5100-5055, he adds. He is positive on realty and infrastructure in the short term.

  • We could see a trading bounce from 5200-5150 which could take the Nifty to 5400 before resumption of downtrend, says Anil Manghnani of Modern Shares and Stockbrokers on CNBC TV18.

  • IIP data: December IIP data has come in at 1.6% versus 2.7%, reports CNBC TV18. December manufacturing sector growth is at 1% versus 19.6% (YoY), electricity growth is at 6% versus 5.4% (YoY) while capital goods growth is at -13.7% versus 42.9% (YoY), it adds. December mining sector growth is at 3.8% versus 11.1% (YoY), consumer non-durables growth at -1.1% versus 3% (YoY), basic goods growth at 5.2% versus 8.4% and consumer goods growth at 3.9% versus 10.4% (YoY), reports CNBC TV18.

NIFTY 3-Month