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Market Report

Thursday, 07-Apr-2011


  • It was flat closing for the markets as the indices look to be in consolidation phase after run-up in March. Midcap and largecap stocks again supported the markets well and infra stocks were particularly in focus among buyers. The Sensex closed at 19591, down 21 points from its previous close, and Nifty shut shop at 5886, down 6 points.

  • The top Nifty gainers today were HDFC, BPCL, Hindalco and Wipro and prime losers included NTPC, Sesa Goa, ONGC and Cairn.

  • The rally in EMs is more of a short-covering one than one indicating a bullish trend, says Ian Scott of Nomura on CNBC TV18. Not sure if this is a fundamentally-driven rally, he adds. He is cautious about Indian markets, thinks that Indian equities are likely to remain volatile in H2FY12 and believes that rising oil and commodity prices are not good for EMs.

  • The trend of the market is up, says Nitin Shah, market analyst, on CNBC Awaaz. The downtrend will start only if the Nifty closes below 5740, he adds.

  • Inflation for March 26: Primary articles inflation for week ended March 26 has come in at 12.97% versus 12.98% (WoW), food articles inflation at 9.18% versus 9.5% (WoW) while fuel group remains unchanged at 13.13% (WoW), reports CNBC TV18.

NIFTY 3-Month