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Market Report

Friday, 09-Sept-2011

NSE

  • The markets closed with substantial losses today after rallying for three consecutive days. Barring consumer durables, all sectoral indices closed deeply in the red, metal being the biggest loser. Other sectors that closed with significant losses include IT, banking, oil & gas and realty. ADAG group stocks, too, came under heavy selling pressure. The Sensex closed at 16867, down 299 points from its previous close, and the Nifty shut shop at 5059, down 94 points.

  • The top Nifty gainers today were HUL, Hero Motocorp, Bajaj Auto and ONGC while the biggest losers included RCom, Ambuja Cements, Hindalco and Sterlite Industries.

  • The markets performed well during the week and barring metal and IT, all sectoral indices closed positive. The Sensex was up 0.2% while the Nifty gained 0.3% during the week. The CNX Midcap index was up 1%, the BSE Smallcap gained 2.3% and the Bank Nifty closed with 1% gain.

  • We feel that that market will pause around 5200-5250, waiting for RBI's next step and after that, it will remain in the range of 4750-5250, says Amisha Vora of Prabhudas Lilladher on CNBC TV18. She thinks that US economic recovery is not the only factor affecting markets and that more concrete steps are needed to come in from the Euro zone.

  • We will head 110 points up but then eventually fall 500-800 points, says Rohit Shrivastav of Sharekhan on NDTV Profit. Therefore, this market's risk-reward ratio is not favourable for investors and it is purely a trader's market, he adds.

NIFTY 3-Month