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Market Report

Thursday, 28-July-2011

NSE

  • Negative global cues took their toll on the markets and both benchmark indices closed with significant loss. Being the day of July Futures expiry also had its negative impact on the indices. Metal and realty were the biggest losers of today's trade and were closely followed by oil & gas, IT and banking. FMCG was the lone sector to close positive. The Sensex closed at 18209, down 223 points from its previous close, and the Nifty shut shop at 5488, down 59 points.

  • The top Nifty gainers today were ITC, ACC, Ranbaxy and Grasim while the biggest losers included Reliance Infra, JP Associates, IDFC and Reliance Capital.

  • There is support for the Nifty at 5480 and resistance at 5620, says Kunal Saraogi, technical analyst, on Zee Business. F&O expiry was expected below 5500 because of selling seen in 5500 Call.

  • As the Nifty breaks the level of 5500, fresh weakness will come in to the market, says Simi Bhaumik, technical analyst, on Zee Business. Below 5500 we could test 5450 so caution is advised, she adds.

  • Inflation: Primary articles inflation for week ended July 16 has come in at 10.49% versus 11.13% (WoW), food prices inflation is at 7.33% versus 7.58% (WoW) while fuel group inflation is at 12.12% versus 11.89% (WoW), reports ET Now.

NIFTY 3-Month