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Market Report

Friday, 04-Mar-2011

NSE

  • The markets closed flat today after volatile session as a result of high crude prices. Banking, auto and IT gained moderately while capital goods was among the prime losers in today's trade. The Sensex closed at 18486, down 3 points from its previous close, and Nifty shut shop at 5538, up 2 points.

  • The markets broke the losing streak this week and both the benchmark indices closed with substantial gains. Most of the sectors also registered positive movement and auto led the gainers rally after its good numbers. The numbers are following: the Sensex was up 4.5% and Nifty was also up 4.5%. The CNX Midcap index was up 4% while BSE Smallcap index was up 2.7% over the week.

  • The Budget was received well by the market and it appears to have made some kind of a bottom, says Fayeza Hafiza of Intime Spectrum Securities on NDTV Profit. The next target on the Nifty is likely to be 5750-5800, she adds.

  • Concerns regarding inflation and political situation are receding on the margin, says Parul Saini of RBS on CNBC TV18. He thinks that however, high crude oil prices are a key risk to India's current account and fiscal deficit, as well as investor sentiment. We maintain our cautious view and would be buyers of the markets at 10% below current levels, he adds.

  • As long as the market stays above 5200 then we could test 5800, says Rakesh Gandhi of LKP Shares on NDTV Profit. By next week we could move up to 5700 and then 5800 at which level the market will face resistance, he adds.

NIFTY 3-Month