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Market Report

Wednesday, 22-June-2011


  • The markets made a gap-up opening, but could not hold on to the gains, trading flat throughout the day. Like yesterday, the broader markets didn't do well today also and were outperformed by large-cap stocks. Capital goods, IT and oil & gas closed with moderate gains while realty and consumer durables lost significantly. The Sensex closed at 17551, down 10 points from its previous close, and the Nifty shut shop at 5278, up 2 points.

  • The top Nifty gainers today were M & M, Tata Power, Cipla and Bajaj Auto and the biggest losers included HUL, Ranbaxy, Bharti Airtel and TCS.

  • The bias of the market is down and the Nifty could go down to 5057 and even lower, says Rohit Shrivastav of Sharekhan on NDTV Profit. Key resistance is seen at 5330 and the downward trend is to continue though some pullback rally is likely, he adds.

  • The market is likely to remain in a trading range of 5100 and 5350, says Ambareesh Baliga of Way2Wealth on NDTV Profit. The bias of the market is negative and so, every bounceback should be used as a selling opportunity, he adds.

  • There is major support for the Nifty at 5220 and in the short term, we could see a pullback that could take the market to 5350-5360, says Kunal Saraogi, technical analyst, on Zee Business.

NIFTY 3-Month