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Market Report

Thursday, 21-July-2011

NSE

  • The markets traded in a range with a negative bias in today's session, with banking and realty pulling the indices down. Midcap stocks faced more selling pressure than largecap counters. Consumer durables and oil & gas were also beaten down heavily. The Sensex closed at 18436, down 66 points from its previous close, and the Nifty shut shop at 5542, down 25 points.

  • The top Nifty gainers today were Hero Honda, Cairn, Siemens and Sun Pharma and the biggest losers included RCom, Kotak Bank, IDFC and Sesa Goa.

  • More or less we would be in a broad range of 5350-5400 to 5600-5650 but in the next one week we should head lower to 5450-5500, says Ambareesh Baliga of Way2Wealth on CNBC TV18. The triggers for the market which one could look at going ahead would be the RBI policy where the expectation is 25 basis points and in case they don't change, that could be one trigger, he adds. The other trigger he sees is the Reliance-BP deal.

  • The market is likely to remain rangebound, says Kunal Saraogi, technical analyst, on Zee Business. Buy at the Nifty support level of 5540 with a target of 5620-5630 and stop loss of 5500, he adds. If the Nifty breaches 5540 on the downside then the next level will be 5450, he adds.

  • Inflation: Primary articles inflation for the week ended July 9 has come in at 11.13% versus 11.58% (WoW), food articles inflation is at 7.58% versus 8.31% (WoW) while fuel group remains unchanged at 11.89% (WoW), reports CNBC Awaaz.

NIFTY 3-Month