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Market Report

Friday, 27-May-2011

NSE

  • The markets made a good recovery today, with both benchmark indices closing with significant gains. Realty, banking, metal and oil & gas were the biggest gainers in today's trade while auto and consumer durables closed with marginal declines. The stocks of ADAG group, too, made robust gains. The Sensex closed at 18266, up 221 points from its previous close, and Nifty shut shop at 5476, up 64 points.

  • The top Nifty gainers today were Hindalco, IDFC, RCom and Reliance Power and prime losers included Tata Motors, HUL, Ambuja Cements and GAIL.

  • The markets picked up a bit today, recovering some of the losses it made during the week. Oil & gas and banking made some gains. Overall, the markets lost a bit over the previous week, with auto being the biggest loser. The numbers are following: the Sensex lost 0.1% and the Nifty closed with 0.3% loss. The BSE midcap index lost 0.4% and Bank Nifty gained 0.6% over the week.

  • Relief rally is expected in the markets and short positions should be closed, says Sudarshan Sukhani, technical analyst, on ET Now. There is money to be made in long positions and the next level for the Nifty would be 5530 and after that 5600, he adds.

NIFTY 3-Month