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Market Report

Thursday, 28-Apr-2011


  • The markets traded weak today with both the benchmark indices lost about 0.75% at the close. Buying was seen in some selective stocks and fertilizer stocks also gained significantly on the news of the government's nod that they can raise prices. Realty was the worst performer of today's trade. Banking, pharma and metal lost significantly and stocks of ADAG group too, came under heavy selling pressure. The Sensex closed at 19292, down 157 points from its previous close, and Nifty shut shop at 5785, down 48 points.

  • The top Nifty gainers today were ONGC, Sun Pharma, ICICI Bank and Dr Reddy's Lab and prime losers included RCom, Kotak Mahindra Bank, Ranbaxy and Cipla.

  • Interest rates, inflation and oil prices are key concerns for the markets and it may slide below 5550 if oil prices rise, says Vibhav Kapoor of IL&FS on CNBC TV18. Liquidity is still abundant in global economy and continues to remain supportive for equities, he adds. He believes the RBI should send stronger signals to control inflation.

  • The market appears to be on the verge of a breakout on either side and this would be a more definite one, says Sudarshan Sukhani, technical analyst, on ET Now. If the resistance of 5900 is broken then the next levels would be 5950-6000-6050 and below 5800, the market could move to 5750-5700, he adds.

  • Inflation: Primary articles inflation for week ended April 16 has come in at 12.08% versus 11.96% (WoW), food articles inflation is at 8.76% versus 8.74% (WoW) while fuel group inflation is at 13.53% versus 13.05% (WoW), reports CNBC TV18.

NIFTY 3-Month