IntradayTrade dot Net
Market Report

Wednesday, 23-Nov-2011


  • The markets lost significantly and with heavy volume today and barring consumer durables, all sectoral indices closed negative. IT, banking, capital goods and oil & gas remained the worst performers today and metal, auto and realty, too, closed with substantial losses. The Sensex closed at 15700, down 365 points from its previous close, and the Nifty shut shop at 4706, down 106 points.

  • The top Nifty gainers today were NTPC, RCom and Bajaj Auto while the biggest losers included BPCL, JP Associates, HDFC Bank and IDFC.

  • The level of 8500 is likely to act as a good support for the Bank Nifty on closing basis, says Sarvendra Srivastav of Emkay Global on NDTV Profit. A positive follow through would take the Bank Nifty up to 9400-9500, he adds.

  • If Nifty breaks 4700, then we could easily see it falling another 400-500 points, says Ambareesh Baliga of Way2Wealth on CNBC TV18. Rupee, he adds, will be the main reason for the downtrend if it all it happens. In that case, sectors dependant on import will be hit maximum, although the rally down is likely to be led by banks and capital goods, he adds.

NIFTY 3-Month