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Market Report

Tuesday, 26-Apr-2011

NSE

  • The markets were quite inconsistent in today's trade and closed flat after recovering from day's low. Buying returned in the afternoon from cements and telecom sectors. Some largecap banking and auto stocks remained bearish and that had adverse impact on the indices. The Sensex closed at 19545, down 39 points from its previous close, and Nifty shut shop at 5868, down 6 points.

  • The top Nifty gainers today were Siemens, BPCL, Hindalco and Bharti Airtel and prime losers included Maruti Suzuki, HUL, Reliance Capital and SAIL.

  • The markets have continued to gallop on weaker dollar and forecast of normal rainfall, however oil prices continuing above US $120 is a worry, says Nandan Chakraborty of Enam on CNBC TV18.

  • We do not expect much of a downside in the market and expect it to stay in a range, says Ambareesh Baliga of Way2Wealth on NDTV Profit. Good monsoons could be the final trigger for the markets to move up, he adds.

  • Currently the market is in consolidation mode and needs to break out of its range in order to show a move, says Sudarshan Sukhani, technical analyst, on ET Now. Hold on to existing long positions, he advises. Calls should be taken above 5900 or below 5800 but at 5850 it is a no-trade zone, he adds.

NIFTY 3-Month