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Market Report

Tuesday, 25-Oct-2011

NSE

  • The markets traded with moderate gains for most of the day, but saw a spurt in the last hour of trade with both benchmark indices closing considerably higher. IT, auto, oil & gas and metal remained the best performers to today's session and FMCG and heathcare, too, played their role in supporting the indices. Banking also covered its downward move to close with only moderate loss. The Sensex closed at 17255, up 316 points from its previous close, and the Nifty shut shop at 5192, up 93 points.

  • The top Nifty gainers today were Kotak Mahindra Bank, Mahindra & Mahindra, Sterlite Industries and ACC while the biggest losers included PNB, Axis Bank, SBI and HDFC Bank.

  • A short-covering rally in the market could take the Nifty to 5400 in the next 2-3 days, says Neeraj Deewan of Quantum Securities on NDTV Profit. In the long-term the market is likely to give good returns but in the short term, it is difficult to take a call, he adds.

  • There is ground for optimism in the short term, says Sudhanshu Pandey of FRR Shares and Securities on NDTV Profit. A key level for the Nifty is 5000 an if the market slips below this then we could head down to 4800-4700 and could see a further breakdown to 4400 levels, he adds. Stay long only above 5000 levels, he advises.

  • Likelihood of further rate action in December relatively low, says the RBI, reports NDTV profit. Inflation expectations remain high, food inflation is under pressure and inflation is expected to decline from December onwards, adds the RBI, says the channel. Global growth prospects have significantly weakened in the last few months, it adds.

NIFTY 3-Month