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Market Report

Friday, 21-Oct-2011

NSE

  • Negativity prevailed in the markets today with both benchmark indices closing in the red. Barring consumer durables, all sectoral indices closed negative with capital goods and realty closing with sharp declines. Metal, banking and FMCG, too, came under selling pressure. The Sensex closed at 16786, down 151 points from its previous close, and the Nifty shut shop at 5050, down 42 points.

  • The top Nifty gainers today were Bajaj Auto, Siemens, Maruti and Hero MotoCorp while the biggest losers included L & T, Bharti Airtel, Tata Motors and Hindalco.

  • The markets closed in negative territory this week with all sectoral indices closing in the red. Capital goods remained the worst performer during the week and along with largecap counters, midcap and smallcap stocks also came under selling pressure. The Sensex was down 1.7% while the Nifty also lost 1.7% during the week. The CNX Midcap index was down 1.7%, the BSE Smallcap lost 1.2% and the BSE Capital Goods closed with 4.4% loss over the week.

  • The market should be heading higher after consolidating above the 5000 levels, says Vijay Agarwal of Unicon Financial on NDTV Profit. This is a buy-on-dips market rather than a sell-on-rally market, he adds.

  • The range for the market is 5020 on the downside and 5150 on the upside and for 5150 to hold up is important, says Mitesh Thacker, technical analyst, on ET Now. If the market is to go up in the short term, then banks need to have major participation in the rally, he adds.

  • The market is in a trading range now but once it breaks this range then take a call on whichever side the break is on, says Jatinder Sharma, technical analyst, on Zee Business. If the Nifty settles above 5150 then we could see a move up to 5350, he adds.

NIFTY 3-Month