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Market Report

Thursday, 23-June-2011


  • The markets closed with significant gains today but the upward movement was confined to largecap stocks. The broader markets faced severe selling pressure. The upward movement in Reliance Industries gave a boost to oil & gas index. Sugar stocks moved up on expectations of a government nod for increased exports. Other top performers included consumer durables, FMCG and IT while realty, metal and healthcare were the losers. The Sensex closed at 17727, up 177 points from its previous close, and the Nifty shut shop at 5320, up 42 points.

  • The top Nifty gainers today were ITC, RCom, RIL and Reliance Capital and the biggest losers included Maruti Suzuki, Cipla, IDFC and Grasim.

  • In July, the market would probably stay in the range of 5175-5100 on the downside and 5330-5450 on the upside, says Deven Choksey of KR Choksey Shares & Securities on CNBC TV18. He thinks that if a bottoming out process is happening then people would want to deploy funds into the market and stocks like SBI, RIL and IDFC would once again find favour with people because on a longer-term prospects these companies offer a good amount of value proposition at current levels.

  • The market is likely to remain choppy but now the market is trading within defined levels of 5250 and 5330, says Sudarshan Sukhani, technical analyst, on ET Now. If 5250 is broken on closing basis then the downside will resume, he adds. The market is in an 80-point range and this is a no-trade zone. If 5330 is taken out on the upside then go long, he advises.

  • This is not a bear market and it is providing repeated opportunities to invest in different sectors and make money, says Saumil Trivedi, market analyst, on NDTV Profit. One has got to be on the right side of the market, he adds.

  • Inflation: Primary articles inflation for week ended June 11 has come in at 12.62% versus 12.86% (WoW), food articles inflation is at 9.13% versus 8.96% (WoW) while fuel group remains unchanged at 12.84% (WoW), reports NDTV Profit.

NIFTY 3-Month