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Market Report

Thursday, 03-Nov-2011

NSE

  • The markets closed flat today with realty, power, oil & gas and capital goods outperforming all other sectors. Both benchmark indices were trading with about half-a-percent losses in the morning. However, positive cues from Europe gave a boost to the markets in the last one hour. The Sensex closed at 17482, up 17 points from its previous close, and the Nifty shut shop at 5266, up 8 points.

  • The top Nifty gainers today were DLF, BHEL, ACC and Reliance Infra while the biggest losers included SAIL, IDFC, HUL and Tata Motors.

  • We are witnessing uncertainty in the markets and fund flows, inflation and interest rates remain a concern, says Sajeev Dhavan of JV Capital Services on NDTV Profit. He expects volatility to continue and does not see the Nifty trading above 5400-5500.

  • We believe that the implications of a disorderly default in Greece would spread well beyond Europe and could result in a risk meltdown, says Mohammed Apabhai of Citi on CNBC TV18. He believes that in the event of a disorderly default, the money market stress would rise significantly. All eyes are now on ECB's action on rates today, he adds.

  • The market is likely to remain choppy for the next couple of days with important support being at 5200-5150, says Mitesh Thacker, technical analyst, on ET Now. We could see a rebound from the support levels where buying would come in, he adds. He thinks focus would be on the midcap sector.

  • Inflation: Primary articles inflation for week ended October 22 has come in at 12.08% versus 11.75% (WoW), food articles inflation is at 12.21% versus 11.43% (WoW) while fuel group inflation is at 14.5% versus 14.7% (WoW), reports NDTV Profit.

NIFTY 3-Month