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Market Report

Monday, 21-Nov-2011

NSE

  • The markets closed with substantial losses today and both benchmark indices closed below their psychologically important levels of 16,000 and 4,800, respectively. All sectoral indices closed deeply in the red with metal, banking, IT and realty being the worst performers. Other sectors that lost significantly include auto, capital goods, oil & gas and consumer durables. The Sensex closed at 15946, down 425 points from its previous close, and the Nifty shut shop at 4778, down 127 points.

  • The top Nifty gainers today were Maruti Suzuki, Coal India and Sun Pharma while the biggest losers included SAIL, Sesa Goa, Cairn and DLF.

  • Global markets were under pressure on fears that euro debt crisis was spiralling out of control, says Nandan Chakraborty of Enam on CNBC TV18. He thinks that for India, the focus will now shift to the winter session of the parliament. While not much is expected on contentious issues like land acquisition, insurance or GST, any progress on reforms could give the markets the much-needed respite, he adds.

  • Participation is very easy in the market so be aggressive and go for it, says Sandeep Bharadwaj of Tower Capital & Securities on NDTV Profit. Stock specific opportunities are plenty, he adds.

  • Uncertainty in the market is likely to continue in the near term, says Deven Choksey of KR Choksey Shares & Securities on NDTV Profit. This uncertainty, he believes, is due to currency movement. Upside is capped at 5000-5050 with firm support at 4700, he adds.

NIFTY 3-Month