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Market Report

Thursday, 24-Nov-2011


  • The markets closed with handsome gains today with auto and capital goods being the lead gainers. IT, banking and oil & gas, too, provided support to the indices and barring FMCG and consumers durables, all sectoral indices closed in the green. The Sensex closed at 15858, up 158 points from its previous close, and the Nifty shut shop at 4756, up 50 points.

  • The top Nifty gainers today were GAIL, ONGC, Sesa Goa and IDFC while the biggest losers included SAIL, Reliance Power, ACC and Hero MotoCorp.

  • Stay out of the market and look to re-enter only at the Nifty levels of 4950-5000, says Ambareesh Baliga of Way2Wealth on NDTV Profit.

  • As long as we are above 4650 we could still remain positive, says Sarvendra Srivastav of Emkay Global on NDTV Profit. I would go long in the market with a stop loss of 4624, he adds.

  • We could see a small technical bounceback to 4750-4800 before the market heads lower, says Vijay Bhambwani, technical analyst, on ET Now. If the Nifty trades above 4725 then we could move to 4775-4800, he adds.

  • This is not a buying market and one should go short on every rise, says Pradeep Surekha, technical analyst, on Zee Business. The next targets on the Nifty are 4620 and 4540, he adds.

  • Inflation: Primary articles inflation for week ended November 12 has come in at 9.08% versus 10.39% (WoW), food articles inflation is at 9.01% versus 10.63% (WoW) while fuel group inflation remains unchanged at 15.49% (WoW), reports NDTV Profit.

NIFTY 3-Month