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Market Report

Friday, 01-Apr-2011

NSE

  • It was flat closing after a volatile day of trade for the markets. Banking and IT brought a lot of pressure on the indices but realty made significant gains to halt the fall of the markets. Sugar stocks made robust gains after the news came that import of sugar would be costlier from now on. The Sensex closed at 19420, down 25 points from its previous close, and Nifty shut shop at 5826, down 8 points.

  • It was robust performance for the markets this week and both benchmark indices and all sectoral indices closed positive. Broader markets outperformed largecaps and sectorally, auto and realty provided the biggest boost to the markets. The numbers are following: the Sensex was up 3% and Nifty was also up 3%. The CNX Midcap index was up 4% while BSE Smallcap index was up 4.5% over the week.

  • The top Nifty gainers today were Reliance Capital, IDFC, RCom and JP Associates and prime losers included PNB, HCL Tech, NTPC and SBI.

  • We remain very optimistic over the long-term direction of the market and concerns challenges for the economy for the markets continue, says Sunil Singhania of Reliance Mutual Fund on CNBC TV18. Going forward we do believe that long-term investors will continue to view India as five-year story and 10-year story, a cyclical long-term growth story and that is what all investors should be looking at, he adds.

  • Once the Nifty hits the 6000-6100 level, it will face strong resistance and from there we could see a correction, says Manish Shah of Fortune Financial Services on NDTV Profit. If the market comes down to 5600, we would take long positions, he adds. He believes that 6180 needs to be crossed for the bullish trend to continue.

  • The trend of the market is up and will remain positive as long as the Nifty trades above 5615, says Nitin Shah, market analyst, on CNBC Awaaz.

NIFTY 3-Month