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Market Report

Tuesday, 06-Sept-2011

NSE

  • The markets gained momentum following Europe's positive opening after trading negative in the morning session. Both benchmark indices closed with about 0.75% gains. Oil & gas was the biggest gainer in today's session, followed by IT, auto and capital goods. Banking and metal, too, closed positive, realty being the only sector that registered a significant loss. The Sensex closed at 16863, up 149 points from its previous close, and the Nifty shut shop at 5064, up 47 points.

  • The top Nifty gainers today were Ambuja Cements, RIL, Mahindra & Mahindra and SAIL while the biggest losers included DLF, Reliance Infra, RCom and Sun Pharma.

  • There is tough resistance for the Nifty at 5095 and a closing above this will take the market up to 5210, says Brijesh Singh of India Advantage on Zee Business.

  • Global slowdown is likely to impact growth in India, says Sandeep Bharadwaj, market analyst, on NDTV Profit. He sees the Nifty cracking down below the 4800 level and believes the Sensex EPS growth to be lower than expected.

  • Use relief rallies to reduce long positions and initiate short positions, says Sudhanshu Pandey of FRR Shares and Securities on NDTV Profit. The bearish trend is likely to continue and fresh round of selling is expected to commence this week, he cautions. He sees resistances at 5200 and then 5500 and supports at 4800 and 4700 and below this at 4400-4300.

NIFTY 3-Month