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Market Report

Friday, 30-Sept-2011


  • The markets traded with moderate losses in the morning session but lost significantly after negative opening of European markets. Metal and baking were the biggest losers of today's trade and auto and realty, too, played significant roles in pulling the markets down. Consumer durables was the only sector that closed in the green. The Sensex closed at 16454, down 244 points from its previous close, and the Nifty shut shop at 4943, down 72 points.

  • The top Nifty gainers today were Sesa Goa, Ranbaxy, Power Grid and Grasim while the biggest losers included Reliance Capital, RCom, Reliance Infra and Sterlite Industries.

  • The markets performed well during the week and both benchmark indices closed with significant gains. ADAG stocks were the exception in the bullish trend and closed with substantial losses. The Sensex was up 1.6% while the Nifty also gained 1.6% during the week. The CNX IT index was up 5.7%, while the BSE Metal gained 4.5% over the week.

  • The market has been grinding into lower range over the last few months and will continue to do so in the next few months as well, says Sangeeta Purushottam of Nine Rivers Capital on CNBC TV18. We cannot completely rule out price damage, she adds. She believes global markets and domestic macros will determine Indian market's move and does not see international issues getting resolved anytime soon.

  • The economic situation in the US is not as bad as people think, says Mark Mobius of Templeton Asset Management on ET Now. India is not getting FII flows as most investors are underweight, he adds. He believes that any signal of rate hike peaking would lead to a rally in the market in India and is bullish on commodities, technology and oil & gas stocks.

NIFTY 3-Month