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Market Report

Friday, 25-Nov-2011

NSE

  • The markets traded with negative bias throughout the day and lost substantially in the last one hour to close with deep losses. IT remained the worst performer in today's trade and auto, metal and oil & gas, too, played their roles in pulling the markets down. Capital goods, realty and banking provided support to the indices. The Sensex closed at 15695, down 163 points from its previous close, and the Nifty shut shop at 4710, down 46 points.

  • The top Nifty gainers today were Ranbaxy, BHEL, L & T and BPCL while the biggest losers included Hindalco, Reliance Power, Maruti and Sterlite Industries.

  • Negativity prevailed across all sectors during the week with both benchmark indices and all sectoral indices closing with significant losses. Metal, oil & gas and banking were the biggest losers and power and IT, too, contributed in the negativity. The Sensex was down 4% while the Nifty also lost 4% during the week. The BSE Smallcap lost 2% and the Bank Nifty closed with 4.5% loss.

  • A bounce is there on the cards but fundamentally nothing has changed and there appear to be no triggers, says Mehraboon Irani of Nirmal Bang Securities on NDTV Profit. But opportunities are there and one should buy stocks which are of problem-free companies, he adds.

  • The market is likely to move sideways and we could see more correction, says Shardul Kulkarni of Angel Broking on NDTV Profit. We could either move to 5000 or stay in a 100-point band for some more time, he adds. Clarity would emerge in 3-4 days so wait on the sidelines for the moment before taking a call, he advises.

  • I would be bullish of the market only if the December Nifty Futures trades above 4725 with a target of 4800, says Vijay Bhambwani, technical analyst, on ET Now.

  • An important level for the market would be 4640-4650 which could hold for some more time, says Mitesh Thacker, technical analyst, on ET Now. The new range now for the next few days is likely to be 4640 on the downside and 4780 on the upside, he adds. He feels that the trend of the market would change beyond 4920.

NIFTY 3-Month