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Market Report

Friday, 11-Mar-2011

NSE

  • The markets recovered a bit in the last hour of the trade and closed with declines of around three-fourth of a percent. Metal, IT and capital goods were the worst performers of today's trade while FMCG and Oil & gas gained marginally today. The Sensex closed at 18174, down 153 points from its previous close, and Nifty shut shop at 5445, down 48 points.

  • The markets remained inconsistent this week and overall it was negative trend that had upper hand. Both the benchmark indices and most of the sectoral indices closed in the red and the numbers are following: the Sensex was down 1.7% and Nifty was also down 1.7%. The CNX Midcap index was down 0.6% while BSE Smallcap index was down 1.2% over the week.

  • There is still 3-5% downside left in the Nifty, says Somil Mehta of Sharekhan on CNBC Awaaz. The index would bounce back from the level of 5310, he adds.

  • If the Nifty breaches the 5466 level then we could head down to 5200 and then 5000-4800, says Prasad Kushe, technical analyst, on Zee Business. If there is any upside, it will just be a selling rally of 100 points, he adds.

  • The January IIP data has come in at 3.7% versus 1.6%, reports CNBC TV18. January manufacturing sector growth is at 3.3% versus 17.9% (YoY), mining sector growth at 1.6% versus 15.3% (YoY), capital goods growth at -18.6% versus 57.9% (YoY), electricity growth at 10.5% versus 5.6% (YoY) and basic goods growth is at 7.6% versus 11.5% (YoY). December IIP number has been revised to 2.5% from 1.6% (provisional), adds the channel.

NIFTY 3-Month