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Market Report

Friday, 14-Oct-2011

NSE

  • The markets gained momentum in the afternoon after a subdued session in the morning and closed with substantial gains. IT and oil & gas led the rally and banking, auto and FMCG, too, played their part in supporting the indices. Realty, metal and capital goods closed with moderate declines. The Sensex closed at 17083, up 199 points from its previous close, and the Nifty shut shop at 5132, up 54 points.

  • The top Nifty gainers today were Jindal Steel, Wipro, TCS and Bharti Airtel while the biggest losers included Sesa Goa, Tata Steel, DLF and Coal India.

  • The markets made significant gains during the week and the Sensex and the Nifty crossed their psychologically important levels of 17,000 and 5000, respectively. Better than expected results from Infosys had a positive impact on the indices with IT outperforming all other sectors. The Sensex was up 5.3% while the Nifty gained 5% during the week. The CNX Midcap index gained 3.5%, the BSE Smallcap was up 2.8% and the CNX Banking index closed with 7% gain over the week.

  • We are negative on the Nifty from a six-month perspective and expect bear market rallies to continue, says Sandeep Bharadwaj of Tower Capital & Securities on NDTV Profit.

  • The market is likely to face stiff resistance at 5165-5170 so those with long positions should book profits and buy only once the Nifty crosses 5170, says Nikita Surekha, technical analyst, on Zee Business. If the market breaches its support of 5058 then it could go down to 5020 and then 4982, she adds.

  • Inflation: September WPI inflation has come in at 9.72% versus 9.78% (MoM), reports NDTV Profit. September primary articles inflation has come in at 11.84% versus 12.58% (MoM), manufactured products inflation at 7.69% versus 7.79% (MoM), food products inflation at 9.23% while fuel group inflation is at 14.09% versus 12.84% (MoM), reports the channel. July inflation has been revised to 9.36% from 9.22%, it adds.

NIFTY 3-Month