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Market Report

Wednesday, 08-June-2011

NSE

  • The markets could not make any clear headway throughout the day and closed with moderate losses. Auto and healthcare lost significantly while consumer durables and FMCG were the only two sectors that managed to close in the green. Other major sectors that closed negative include banking, realty, metal and oil & gas. The Sensex closed at 18394, down 101 points from its previous close, and Nifty shut shop at 5527, down 29 points.

  • The top Nifty gainers today were RCom, GAIL, HUL and NTPC and the biggest losers included Hero Honda, ONGC, Sun Pharma and Hindalco.

  • We are likely to see the market trade in the range of 5300 on the downside and 6200 on the upside for the next 3-6 months, says Saumil Trivedi, market analyst, on NDTV Profit. There is a 95% chance that the level of 5300 will hold and that the market will not go down below that, he adds.

  • The market will find it difficult to cross 5600, says Shruti Meghani Vora of Antique Stock Broking on CNBC TV18. Eventually, the big move will come in 2-3 weeks which should take the Nifty up by a big margin towards 5900-6000, she adds. If the Nifty stays in the range of 5300 and 5600, buy IT and banks.

NIFTY 3-Month