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Market Report

Thursday, 12-May-2011

NSE

  • Despite good quarterly numbers from various companies and better April trade data, the markets were in correction mode today and both benchmark indices took sharp cuts. Metal, capital goods, auto, banking and IT registered substantial losses and realty was the sole sector to close in the green. The Sensex closed at 18336, down 249 points from its previous close, and Nifty shut shop at 5486, down 79 points.

  • The top Nifty gainers today were Siemens, ONGC, Ranbaxy and BPCL and prime losers included Hindalco, Sterlite Industries, Sesa Goa and HDFC.

  • Inflation: Primary articles inflation for week ended April 30 has come in at 11.96% versus 12.11% (WoW), food articles inflation is at 7.7% versus 8.53% (WoW) while fuel group inflation is at 12.25% versus 13.53% (WoW), reports CNBC TV18.

  • IIP Data: The IIP data for March has come in at 7.3% versus 3.6%, reports NDTV Profit. March capital goods growth is at 12.9% versus 36% (YoY), mining sector growth is at 0.2% versus 12.3% (YoY) while manufacturing sector growth is at 7.9% versus 16.4% (YoY), it adds. March electricity sector growth is at 7.2% versus 8.3% (YoY), basic goods growth is at 4.3% versus 10.2% (YoY), intermediate goods growth is at 5.4% versus 13.5% (YoY), consumer goods growth is at 7.7% versus 9.3% (YoY), consumer durable goods growth is at 12.3% versus 32.6% (YoY) while consumer non-durable goods growth is at 5.7% versus 1.5% (YoY), it reports. February IIP data has been revised to 3.7 from 3.6%, it adds.

  • We are trading in a very tight range with 5400 on the downside and 5700 on the upside, says VK Sharma of HDFC Securities on NDTV Profit. As long as we stay within this band, smallcap and midcap sectors will provide good buying opportunities with focus on selective stocks, he adds.

NIFTY 3-Month