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Market Report

Thursday, 17-Nov-2011

NSE

  • Selling pressure took its toll on the markets today with both benchmark indices closing with about 2% losses. Primarily, it was heavyweights that pulled the markets down and RIL remained among the top losers today. Oil & gas, capital goods and realty were the biggest laggards and auto and banking, too, lost significantly. The Sensex closed at 16462, down 314 points from its previous close, and the Nifty shut shop at 4935, down 96 points.

  • The top Nifty gainers today were Reliance Infra, Hero MotoCorp, Sun Pharma and Cipla while the biggest losers included JP Associates, Ranbaxy, Sesa Goa and RIL.

  • We could see the market move sideways before beginning its next leg down, says Ashwani Gujral, technical analyst, on ET Now.

  • Q2 earnings were marginally below expectations with two major disappointments - Maruti Suzuki and Tata Steel, says Sanjeev Prasad of Kotak Institutional Equities on CNBC TV18. We now estimate that FY12 net profits may grow at 14.4% for Sensex companies, he adds. We have fine-tuned our FY12 Sensex EPS estimate to Rs 1120 from Rs 1160 and the FY13 EPS estimates have also been revised lower to Rs 1300 from Rs 1320 previously, he says.

  • Inflation: Primary articles inflation for week ended November 5 has come in at 10.39% versus 11.43% (WoW), food articles inflation at 10.63% versus 11.81% (WoW) while fuel group inflation is at 15.49% versus 14.5% (WoW), reports NDTV Profit.

NIFTY 3-Month