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Market Report

Monday, 10-Oct-2011


  • It was a robust performance in the markets today and along with largecap counters, midcap and smallcap stocks also participated in the rally. All sectoral indices closed positive with realty, IT and oil & gas being the lead gainers. Consumer durables, metal, auto and banking also made substantial gains in today's session. The Sensex closed at 16557, up 325 points from its previous close, and the Nifty shut shop at 4980, up 92 points.

  • The top Nifty gainers today were Tata Motors, Sesa Goa, Tata Power and DLF while the biggest losers included Maruti Suzuki, Jindal Steel, Sun Pharma and Cipla.

  • Europe has opened in the green and is trading mixed while the Indian market continues to look steady though it has come off the highs of the day. Leading the gainers are IT and telecom stocks.

  • There is support for the Nifty at 4800 and below this the pain will start but eventually we are headed slightly upwards, says Amit Gupta of ICICI Securities on CNBC TV18. Above 4930, shorts will get covered and then we will head to 5000, he adds.

  • The market is now facing resistance in the area of 4950-5030 and I would wait and see how the market pans out in this area before taking a call of going long or short, says Anu Jain, technical analyst, on CNBC TV18.

NIFTY 3-Month