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Market Report

Wednesday, 27-Apr-2011


  • The markets were quite inconsistent in today's trade and closed with moderate declines after recovering from day's low. Infra stocks were laggards in today's session and a few large cap names also played their roles in pulling down the markets. A few names from auto sector supported the markets well and remained among the biggest gainers of the session. The Sensex closed at 19449, down 96 points from its previous close, and Nifty shut shop at 5834, down 34 points.

  • The top Nifty gainers today were ONGC, Mahindra & Mahindra, Maruti Suzuki and ITC and prime losers included Ambuja Cements, Wipro, JP Associates and BHEL.

  • Q4 earnings have been better than expected in some cases but macro concerns, like rising inflation and interest rates still remain a matter of concern, says Prakash Diwan of Networth Stock Broking on NDTV Profit. Post June, things could start to look better for the Indian markets, he adds.

  • The market is trading in a range with supports at 5808 and 5748 and resistances at 5910 and 5952, says Ashwani Gujral, technical analyst, on ET Now. As 5850 did not hold, the trend will not be positive, he adds. He believes midcaps will outperform the Nifty.

  • The upside in the market is capped and the Nifty is finding it difficult to cross 5900-5940 because of lack of triggers, says Ambareesh Baliga of Way2Wealth on CNBC TV18. He believes there are no positive surprises now and advises booking profits at upper levels.

NIFTY 3-Month