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Market Report

Thursday, 04-Aug-2011


  • The markets closed with significant losses today after trading in the green in the opening trade. All sectoral indices closed in the red, with realty, auto, metal and FMCG among the worst performers. The Sensex closed at 17693, down 247 points from its previous close, and the Nifty shut shop at 5332, down 73 points.

  • The top Nifty gainers today were BPCL, GAIL, RCom and Reliance Infra while the biggest losers included Ranbxy, Reliance Capital, Mahindra & Mahindra and ITC.

  • The market is likely to trade rangebound in the month of August and we do not expect much FII activity, says Gaurang Shah of Geojit BNP Paribas on NDTV Profit. We could see a bounceback to 5445 and 5465 but it will be important to see if these levels are sustained, he adds.

  • Weakness in the market is still there with global cues negative, too, says Simi Bhaumik, technical analyst, on Zee Business. Till the range of 5200-5500 is not broken on the upside, strength will not be there, she adds.

  • The intermediate trend of the market is down and this will change only if the Nifty stays above 5450, says Sudarshan Sukhani, technical analyst, on ET Now.

  • Inflation: Primary articles inflation for week ended July 23 has come in at 10.99% versus 10.49% (WoW), food articles inflation at 8.04% versus 7.33% (WoW) while fuel group remains unchanged at 12.12% (WoW), reports NDTV Profit.

NIFTY 3-Month