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Market Report

Tuesday, 07-June-2011

NSE

  • Led by Reliance Industries, the markets made moderate gains today. Realty, metal, IT and healthcare also supported the indices well and capital goods and FMCG were the only two sectors to close in the red. The Sensex closed at 18496, up 75 points from its previous close, and Nifty shut shop at 5556, up 24 points.

  • The top Nifty gainers today were Sun Pharma, RIL, JP Associates and Tata Steel and the biggest losers included HUL, Hero Honda, L & T and ACC.

  • The market is waiting for a trigger to take some direction, says Rohit Shrivastav of Sharekhan on NDTV Profit. The Nifty can move upwards to the level of 5600 but there is strong resistance at 5605, he adds. He sees support at 5300. He is positive on FMCG but negative on metals and autos.

  • The trading range of the market is getting narrower on a daily basis, says Anil Manghnani of Modern Shares and Stockbrokers on CNBC TV18. There is key support for the Nifty at 5450-5400 and if we can hold on to this support level then we could look higher, he adds. He sees resistance at 5600-5635 and believes that this is only a trader's market.

  • Investor sentiment remains weak as trading values and outstanding positions are subdued, says Bharat Iyer of JPMorgan on CNBC TV18. He adds that FIIs have been sellers, though the pressure has been partially absorbed by DIIs. Our money flow monitor suggests inflows into IT services and materials and outflows from financials and industrials last month, he says.

NIFTY 3-Month