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Market Report

Thursday, 17-Mar-2011


  • Negativity prevailed in the markets today and barring a few, all sectoral indices closed in the red. IT and FMCG remained the worst performers and other sectors like metal, auto and realty also didn't do well. The Sensex closed at 18150, down 209 points from its previous close, and Nifty shut shop at 5447, down 64 points.

  • The market is trading in a range of 5400 on the downside and 5600 on the upside and we need to break out of this range in order to see a move in the market, says Hitesh Eidnani of Trend Tech Consultants on NDTV Profit. A break on either side could see a move of 200-300 points, he adds. He believes that if 5400 is broken then we could see the levels of 5175.

  • Credit Policy: Risk to growth is emerging and rising commodity prices are adding to GDP and inflation risks while IIP continues to be volatile, says the RBI, reports CNBC TV18. The upside risk to inflation has stemmed from rising crude prices and current account deficit is seen at 2.5% of GDP this fiscal, it adds, says the channel.

  • Inflation: Primary articles inflation for week ended March 5 has come in at 12.31% versus 13.96% (WoW), food articles at 9.42% versus 9.52% (Wow) and fuel group at 12.79% versus 9.48% (WoW), reports CNBC TV18.

NIFTY 3-Month