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Market Report

Tuesday, 19-Apr-2011

NSE

  • The markets were quite volatile today and both the benchmark indices closed with minor gains. In the last one hour, buying returned in financial counters and a few capital goods stocks and that made the indices move to the green. Stocks of oil marketing companies and telecom companies also played their role in the up-move. The Sensex closed at 19122, up 31 points from its previous close, and Nifty shut shop at 5741, up 12 points.

  • The top Nifty gainers today were IDFC, HCL Tech, BPCL and Cairn India and prime losers included Hero Honda, Grasim, BHEL and Kotak Mahindra Bank.

  • The upward move of the indices has surprised everyone and the markets looks in a state of confusion, says Raamdeo Agrawal of Motilal Oswal on CNBC TV18. With high inflation and high oil prices, the markets can stabilize only with 20-25% growth in quarterly numbers, he adds.

  • The market is not going anywhere in a hurry, says Sudhanshu Pandey of FRR Shares and Securities on NDTV Profit. He sees the level of 6000 as the selling area and 5200 as the buying area. In between this range, one should look at individual stocks rather than the index, he adds.

  • We are not far from the level of 5600 and buying this rally would be dangerous, says Sushil Kedia of ATMA on CNBC TV18. We could possibly revisit 5800-5820 and then fall to 5600, he adds. Once we are out of the range of 5600-5900, we could see a decline which could even take us down to 4800, he says.

NIFTY 3-Month