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Market Report

Wednesday, 03-Aug-2011


  • With no positive global cues, Indian markets had a gap down opening but recovered in the last one hour to close with losses of about 0.75%. Capital goods was the worst performer in today's trade, with auto following close behind. FMCG and metals closed with moderate gains; public sector oil marketing companies also provided support to the indices.The Sensex closed at 17941, down 169 points from its previous close, and the Nifty shut shop at 5405, down 52 points.

  • The top Nifty gainers today were SAIL, Reliance Infra, Sesa Goa and BPCL while the biggest losers included L & T, Tata Motors, Axis Bank and Bajaj Auto.

  • The market is looking weak now and an important level is 5370, says Salil Sharma, technical analyst, on NDTV Profit. If 5370 holds then the range would be 5370 and 5480 but if it is breached then we could move down to 5328, he adds.

  • We are likely to test 5350, says Ashwani Gujral, technical analyst, on ET Now. The market could go down by 100-150 points but there will be strong support at 5200, he adds. He sees resistance at 5490 and 5524.

NIFTY 3-Month