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Market Report

Tuesday, 16-Aug-2011

NSE

  • It was a turbulent day in the markets today and both benchmark indices closed with moderate losses. IT made some smart gains while realty closed with significant losses in today's session. ADAG group also faced intense selling pressure and profit booking was there in fertilizer stocks, too. The Sensex closed at 16731, down 109 points from its previous close, and the Nifty shut shop at 5036, down 37 points.

  • The top Nifty gainers today were TCS, BHEL, HCL Tech and Bharti Airtel while the biggest losers included JP Associates, RCom, Reliance Infra and Reliance Power.

  • We expect a short-term bounce which could take the Nifty to 5190-5230 at which level there will be resistance and if this is crossed then the next target would be 5310 before the market heads down, says Rohit Shrivastav of Sharekhan on NDTV Profit. The medium-term is down, he adds.

  • Profit booking continues in the market and till the Nifty is not able to cross 5200-5280 the positive trend will not resume, says Nikita Surekha, technical analyst, on Zee Business.

  • July WPI inflation has come in at 9.22% versus 9.44% in June, reports NDTV Profit. July manufactured products inflation is at 7.49% versus 7.43% (MoM), primary articles inflation at 11.30% versus 12.22% (MoM), fuel group inflation at 12.04% versus 12.85% (MoM) and food articles inflation is at 8.19% versus 8.38% (MoM), reports the channel.

NIFTY 3-Month