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Market Report

Monday, 26-Sept-2011

NSE

  • It was a weak opening in the markets today and they slipped further in the morning session. Significant recovery came in the afternoon and both benchmark indices closed with only half-a-percent losses. The recovery was primarily led by banking and IT and cement sector, too, showed some positive movements. The Sensex closed at 16051, down 111 points from its previous close, and the Nifty shut shop at 4835, down 32 points.

  • The top Nifty gainers today were DLF, JP Associates, Ranbaxy and Ambuja Cements while the biggest losers included Tata Power, Sterlite Industries, Sesa Goa and Reliance Capital.

  • The expiry will not be earth shattering either ways and it could be in the range of about 4970-4750 levels, which is a 200-point range, says Anu Jain, technical analyst, on CNBC TV18. We had a bullish set-up coming last week where we were attempting the 5195-5200 levels which was a great trend decider, but the gap-downs are a follow up to the August gap-downs, she adds. She believes that the levels of 4970-5030 will provide stiff resistance.

  • The band for trading now is 4700 and 5200, says Deven Choksey of KR Choksey Shares & Securities on NDTV Profit. We expect recovery from the current levels to the level of 5050, he adds.

  • The market is likely to witness immense amount of volatility from the current levels on the back of debt crisis in Europe and the Sensex is expected to move towards 14500 levels over the next few months, says Saurabh Mukherjea of Ambit Capital on CNBC TV18. We will continue to be sellers in this market due to global cues, he adds.

NIFTY 3-Month