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Market Report

Friday, 25-Feb-2011

NSE

  • After trading flat during morning and afternoon session, the markets made substantial up-move in the last one hour of the trade and closed in the green. Banking counters made significant gains after the news that there would be outlay in the budget for infrastructure projects. The Sensex closed at 17700, up 68 points from its previous close, and Nifty shut shop at 5303, up 40 points.

  • The markets lost significantly this week as crude oil prices jumped substantially and domestic cues were also not very encouraging. Not a single sector gained this week and the numbers are following: the Sensex was down 3% and Nifty was also down 3%. The CNX Midcap index was down 4.7% while BSE Smallcap index was down 4% over the week.

  • The markets haven't taken anything positive from the union rail budget, says Rajesh Jain, market analyst, on CNBC Awaaz. There is no financial planning in this budget and if main budget would also be like this then it is expected that international rating agencies would downgrade India rating.

  • The markets are likely to spike globally if the Libyan crisis is resolved fast, says Andrew Holland of Ambit Capital on NDTV Profit. If the oil prices correct then the Sensex could touch 20000, he adds. He believes that interest rate cycles in the US and Europe are on an upward curve.

  • Important level for the market is 5340, says Shrikant Chouhan of Kotak Securities on NDTV Profit. If this is broken on the upside then we could see a rally which will take the market forward, he adds.

NIFTY 3-Month