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Market Report

Wednesday, 25-May-2011

NSE

  • The markets slipped further today with IT and capital goods putting a lot of pressure on the indices. Oil marketing companies, pharma and sugar also faced selling pressure. Banking was trading only marginally in the red for most of the day but slipped deeper in the end. Consumer durables was the only sector that managed to close in the green. The Sensex closed at 17847, down 165 points from its previous close, and Nifty shut shop at 5349, down 46 points.

  • The top Nifty gainers today were Kotak Mahindra Bank, Sun Pharma, Ambuja Cements and Jindal Steel and prime losers included DLF, BPCL, L& T and IDFC.

  • As the Nifty has breached the level of 5350, further downtrend may come in the markets, says Gaurang Shah of Geojit BNP Paribas on CNBC Awaaz. In this kind of markets the strategy should be sell on rally, he adds.

  • This market is going to be a value pick market, says Deven Choksey of KR Choksey Securities on ET Now. Broader market is not going to perform well but some of the picks from that category would certainly be good bets.

NIFTY 3-Month