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Market Report

Thursday, 31-Mar-2011


  • The markets were quite inconsistent today and made significant gains in the last one hour to close in the green. Banking was the worst performer of today's trade but IT and realty compensated for banking losses and made the indices close positive. The Sensex closed at 19445, up 155 points from its previous close, and Nifty shut shop at 5833, up 46 points.

  • The top Nifty gainers today were Reliance Power, Reliance Infra, DLF and Bajaj Auto and prime losers included SBI, Ambuja Cements, RCom and M & M.

  • We've remained bearish on the Nifty while price action was trapped below 5566 resistance, but the recent rally forces a reassessment, says Laurence Balanco of CLSA on CNBC TV18. Such a move supports an initial upside target of 6000 and potential breakout to new all-time highs, he adds.

  • The bias of the market is still positive and the trend will reverse only if the Nifty gives a closing below 5580, says Nitin Shah, market analyst, on CNBC Awaaz.

  • A Nifty target of 6000 looks very much possible now, says Amit Rathi of Anand Rathi Securities on CNBC TV18. We should keep a watch on inflation and interest rates and see some amount of ETF money in the system, he adds.

NIFTY 3-Month