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Market Report

Tuesday, 29-Mar-2011


  • Markets performed steadily today and all sectoral indices moved with the markets. Large cap stocks remained the prime gainers in today's trade and smallcap counters lagged behind. Auto and IT counters gained the most with metal and consumer durables following closely. The Sensex closed at 19120, up 177 points from its previous close, and Nifty shut shop at 5736, up 49 points.

  • There are supports for the Nifty at 5643-5560-5522 and resistance is at 5750-5800, says Sudhanshu Pandey of FRR Shares and Securities on NDTV Profit. The market is likely to stay in a sideways range and one should be stock specific in this market, he adds.

  • This is just a strong rally and not a resumption of the upward trend, says Sushil Kedia of ATMA on CNBC TV18. There is strong resistance for the Nifty at 5800-5900 and it does not look like the market will cross 5900 before falling down to 4800, he adds.

  • India's valuations have come to reasonable levels post the correction and we are currently buyers of Indian stocks with many midcap and smallcap stocks having turned very attractive, says Mark Mobius of Templeton Asset Management on CNBC TV18. The top three concerns for India are unemployment, inflation and water but India is amongst the top pick in the EM basket, he adds. He sees commodity prices rising further as QE2 is not expected to end soon.

NIFTY 3-Month