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Market Report

Thursday, 08-Dec-2011

NSE

  • The markets closed with substantial losses today with all sectoral indices closing deeply in the red. Capital goods, banking, oil & gas and realty were the worst performers in today's session and metal, auto and FMCG, too, closed weak. The Sensex closed at 16488, down 389 points from its previous close, and the Nifty shut shop at 4944, down 119 points.

  • The top Nifty gainers today were Wipro, Sun Pharma, PNB and Cipla while the biggest losers included RCom, JP Associates, BHEL and Sesa Goa.

  • The market is likely to trade rangebound with the Nifty staying between 4970 and 5180, says Salil Sharma, technical analyst, on NDTV Profit. Technology stocks could outperform and PSU bank stocks, too, look attractive, he adds.

  • The Nifty is likely to stay in a range with 5100 on the upside and 5050 on the downside, says Sharmila Joshi of Fairwealth Securities on NDTV Profit. I do not see any major negative news flow domestically but expect profit booking to happen Friday, she adds.

  • The market is likely to consolidate at 4950 before making its next move up, says Ashwani Gujral, technical analyst, on ET Now. Upside is capped at 5200 from where the Nifty could reverse with resistances at 5096 and 5131, he adds.

  • Inflation update: Primary articles inflation for week ended November 26 has come in at 6.92% versus 7.74% (WoW), food articles inflation at 6.60% versus 8% (WoW) while fuel group inflation remains unchanged at 15.53% (WoW), reports ET Now.

NIFTY 3-Month