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Market Report

Tuesday, 13-Sept-2011

NSE

  • It was a volatile day of trade in the markets today with selling pressure returning in the afternoon. IT gained the most in today's session followed by oil & gas and metal while auto, capital goods, banking and healthcare closed with moderate losses. The Sensex closed at 16467, down 34 points from its previous close, and the Nifty shut shop at 4941, down 6 points.

  • The top Nifty gainers today were Cairn India, Sesa Goa, Kotak Bank and ACC while the biggest losers included Tata Motors, SBI, Sun Pharma and Cipla.

  • If the Nifty is able to stay above 4890, then it would test 5000-5050 but below 4890, we could fall to 4750-4700, says Brijesh Singh of India Advantage on Zee Business.

  • We think the probability of a mild recession has increased to 25% from 20%, says Andrew Garthwaite of Credit Suisse on CNBC TV18. Hence we have cut the year-end S&P 500 target to 1180 from 1220 and have also reduced our weighting of equities to benchmark, he adds.

  • In the short-term, we expect continued weakness as economic data remains volatile, says Niall MacLeod of UBS on CNBC TV18. However, we expect data to improve into the final stretch of this year and as a result, Asian equities may end the year higher even though they may be weak in the short-term, he adds.

NIFTY 3-Month