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Market Report

Friday, 12-Aug-2011

NSE

  • Both benchmark indices closed with significant losses, even though cues from Europe were positive. IT, banking and realty were the biggest losers in today's session and metal also closed weak. The Sensex closed at 16840, down 220 points from its previous close, and the Nifty shut shop at 5073, down 65 points.

  • The top Nifty gainers today were Jindal Steel, Mahindra & Mahindra, Hero Honda and GAIL and the biggest losers included Tata Motors, Hindalco, Reliance Capital and JP Associates.

  • The markets closed with significant losses this week and barring auto, all sectoral indices and both benchmark indices closed negative. The Sensex was down 2.7% and Nifty lost 2.6% during the week. The BSE Smallcap index closed with 2.4% loss while the CNX Midcap index lost 1.5% over the week.

  • An important level for the Nifty now is 5180 and only if it manages to close above this then we could see stability return to the market next week and then the next target would be 5250-5300, says Kunal Saraogi, technical analyst, on Zee Business.

  • The market is still in for wild swings in line with global cues but India is likely to outperform US and Europe which are in for more fall, says Ambareesh Baliga of Way2Wealth on NDTV Profit. For Indian markets, downside is limited and this is a good time to start nibbling into good stocks, he adds. He believes that in 4-6 months, FIIs will come back into the Indian markets.

  • June IIP data has come in at 8.8% versus 5.9% (MoM), reports NDTV Profit. Capital goods sector growth has come in at 37.7% versus 3.7% (YoY), manufactured sector growth at 10% versus 7.9% (YoY), mining sector growth at 0.6% versus 6.9% (YoY), electricity sector growth at 7.9% versus 3.5% (YOY), consumer goods growth at 1.6% versus 13.3% (YoY), basic goods growth at 7.5% versus 3.7% (YoY) and intermediate goods growth at 1.9% versus 8.5% (YoY), reports CNBC TV18.

NIFTY 3-Month