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Market Report

Thursday, 19-May-2011

NSE

  • The markets traded flat today with selective buying registered across all sectors. Capital goods gained on the back of better FY11 results from Larsen & Toubro. Oil & gas also moved up with RIL gaining significantly. Realty stocks took a severe beating and stocks of ADAG group also took sharp cuts. Some midcap banking counters, too, didn't do well. The Sensex closed at 18141, up 55 points from its previous close, and Nifty shut shop at 5428, up 7 points.

  • The top Nifty gainers today were L & T, IDFC, Reliance Industries and ONGC and prime losers included DLF, Hindalco, RCom and Hero Honda.

  • The market is characterised by a sharp drop in liquidity and is trading directionless, says Prakash Diwan of Networth Stock Broking on NDTV Profit. There are no new flows as such and the momentum is weak, he adds. He believes the Nifty could test 5250-5230 by next week.

  • Momentum has gone out of the market and there is scepticism and lack of interest, says Mehraboon Irani of Nirmal Bang Securities on CNBC TV18. Indian markets have got de-rated and further fall is possible, he adds. He believes we could see one more interest rate hike and does not see heavyweights like SBI and RIL going up.

  • Inflation: Primary articles inflation for week ended May 7 has come in at 10.94% versus 11.96% (WoW), food articles inflation is at 7.47% versus 7.70% (WoW) while fuel group inflation is at 12.11% versus 12.25% (WoW), reports NDTV Profit.

NIFTY 3-Month