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Market Report

Wednesday, 02-Nov-2011

NSE

  • The markets closed flat today, with ADAG group stocks being the best performers. While select banking stocks did well, the sector as a whole closed in the negative. Auto was the biggest loser in today's session while oil & gas gained significantly. The Sensex closed at 17465, down 16 points from its previous close, and the Nifty shut shop at 5258, no change.

  • The top Nifty gainers today were RCom, Reliance Power, Reliance Infra and HCL Tech while the biggest losers included PNB, Bharti Airtel, Hero MotoCorp and ICICI Bank.

  • Indian markets have already priced in many global issues and we could see a 9-10% rally in the Nifty by year end, says Parul J Saini of RBS Asia on NDTV Profit. Earning reports in India have been a mixed bag, he adds.

  • By next week all negative global cues should have sorted themselves out and we could see the Nifty head towards 5700-5800 by this month end, says Sanjeev Bhasin, investment advisor, on NDTV Profit. It is likely that the market should hold 5150-5140 with strong base at 5165, he adds. He believes the Greece referendum holds the key and advises increasing exposure to equities.

  • We don't see much of a downside in the market and the levels of 5200-5250 should hold, says Ambareesh Baliga of Way2Wealth on NDTV Profit.

NIFTY 3-Month