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Market Report

Thursday, 30-June-2011


  • It was a good end to the June series as the Nifty closed well above the 5600 mark and most sectors ended positive. Banks, FMCG and metals were the leaders of the rally today. The broader markets were, however, quiet in today's trade and closed with modest gains. Sensex shut shop at 18845, up 152 points and Nifty at 5647, up 46 points from the previous close.

  • Top Nifty gainers today were Jaiprakash Associates, Kotak Mahindra Bank and Jindal Steel while losers included Sesa Goa, Bharti Airtel and ONGC.

  • We are likely to be back in a trading range of 5400 on the downside and 5750 on the upside, says Hemant Thukral, technical analyst, on CNBC TV18. The upside appears capped at 5700-5750 and we could see the rally being transferred to the midcaps, he adds.

  • We are likely to see much higher levels so long-term investors should remain long, says Sudarshan Sukhani, technical analyst, on ET Now. Traders should avoid trading in the Nifty but focus on individual stocks, he advises. He sees the market trading choppy and rangebound for the next few days.

  • Inflation: Primary articles inflation for week ended June 18 has come in at 11.84% versus 12.62%, food articles inflation is at 7.78% versus 9.13% while fuel group inflation is at 12.98% versus 12.84%, reports NDTV Profit.

NIFTY 3-Month