IntradayTrade dot Net
Market Report

Thursday, 05-May-2011


  • The markets continued with its downward trend today as well and all sectoral indices closed in the red. Realty and banking were the worst performers of today's session, though other sectors also lost significantly. The stocks of ADAG group also played their role in dragging down the markets and sugar and infrastructure stocks too faced heavy selling pressure. The Sensex closed at 18211, down 259 points from its previous close, and Nifty shut shop at 5460, down 77 points.

  • The top Nifty gainers today were Hero Honda, Kotak Bank, Maruti Suzuki and GAIL and prime losers included Ranbaxy, RCom, PNB and Tata Power.

  • There is good support for the Nifty at 5400 and in case this is taken out then we could go to 5200 and even 5000 though this is unlikely to happen since there appear to be no negative triggers for the market, says Ambareesh Baliga of Way2Wealth on CNBC TV18. For the next couple of months, we are likely to trade in a range of 5400 and 5700 and 5700 is going to be difficult to cross, he adds.

  • The bias of the market is negative but we could see a pullback after so many days of Nifty downtrend, says Ashish Chaturmotha of IIFL Wealth on NDTV Profit. Till we do not go beyond 5700, use every rally to sell instead of going long on dips, he adds.

  • Inflation: Primary articles inflation for week ended April 23 has come in at 12.11% versus 12.08% (WoW), food articles inflation is at 8.53% versus 8.76% (WoW) while fuel group remains unchanged at 13.53% (WoW), reports NDTV Profit.

NIFTY 3-Month