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Market Report

Thursday, 01-Dec-2011


  • It was a good day for the Indian market which saw the indices post significant gains and with big volumes though the 5000 level proved elusive for the Nifty on close. Most sectors saw positive trade today and the biggest gainers were banks and metals. The broader markets, too, showed strength. Sensex shut shop at 16483, up 359 points and Nifty at 4936, up 104 points from the previous close.

  • Top Nifty gainers today were Hindalco, ICICI Bank and SAIL while losers included BHEL, BPCL and Dr Reddy's.

  • The momentum in the market is likely to last only for the short term, says Sajeev Dhavan of JV Capital Services on ET Now. He sees a 10% upside in the telecom sector but is not very bullish on pharma stocks.

  • Our forecasts for 2012 show EM growth of 5.1% and although Europe is in recession, the risk of a break-up in the euro is small, says Geoffrey Dennis of Citigroup on CNBC TV18. We expect solid gains over the next 12 months from Asia, with China and Korea as our key overweights, he adds, and says they continue to be neutral on India.

  • We expect the Nifty to trade to the levels of 5080 on the upside, says Salil Sharma, technical analyst, on NDTV Profit. The market is likely to remain rangebound, between 4850 and 5170, for the next seven days, he adds. He believes that if the Nifty goes above 5200 then it would be safe to say that we are out of the woods.

  • Inflation: Primary articles inflation for week ended November 19 has come in at 7.74% versus 9.08% (WoW), food articles inflation is at 8% versus 9.01% (WoW) while fuel group inflation is at 15.53% versus 15.49% (WoW), reports NDTV Profit.

NIFTY 3-Month