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Market Report

Thursday, 15-Sept-2011

NSE

  • The markets closed with significant gains in today's session after trading with deep losses in the morning. Positive opening of Europe provided triggers to the markets and the rally was mostly driven by interest rate sensitive sectors like realty, banking and auto. IT also closed with significant gains and oil & gas and consumer durables, too, provided support to the indices. Capital goods and FMCG were the only two sectors that closed negative. The Sensex closed at 16877, up 167 points from its previous close, and the Nifty shut shop at 5076, up 63 points.

  • The top Nifty gainers today were Tata Motors, GAIL, DLF and SBI while the biggest losers included BHEL, L & T, Tata Steel and HUL.

  • There was strong resistance for the Nifty at 5058 and as this is crossed we could head towards 5250-5300, says Kunal Saraogi, technical analyst, on CNBC Awaaz.

  • There is important resistance for the Nifty at 5120 and support is at 4950, says Dhaval P Vyas, technical analyst, on Zee Business. Hold long positions in the Nifty or initiate fresh long positions on declines with a target of 5100-5160, he adds.

  • We are now seeing a second leg of the pullback and there is no value in trying to trade this choppy market, says Ashwani Gujral, technical analyst, on ET Now. Wait for the volatility to subside before taking a call, he advises. He sees support for the Nifty at 4944 and 4876 and resistance at 5094.

  • Inflation: Primary articles inflation for week ended September 3 has come in at 13.04% versus 13.34% (WoW), food articles inflation is at 9.47% versus 9.55% (WoW) while fuel group inflation is at 13.01% versus 12.55% (WoW), reports NDTV Profit.

NIFTY 3-Month