IntradayTrade dot Net
Market Report

Friday, 16-Dec-2011

NSE

  • The markets were extremely volatile today and the Nifty lost about 161 points from the highs of the day to close with significant losses. It was the weakest closing for the Nifty in the past two years. All sectoral indices closed negative with capital goods, banking and realty being the worst performers. Other big losers included metal, oil & gas and FMCG and auto and IT were the only two sectors that registered moderate declines. The Sensex closed at 15491, down 345 points from its previous close, and the Nifty shut shop at 4652, down 95 points.

  • The top Nifty gainers today were GAIL, HCL Tech, Dr Reddy's and Grasim while the biggest losers included L & T, PNB, Axis Bank and JP Associates.

  • Negativity prevailed across all sectors during the week and both benchmark indices and all sectoral indices closed with significant losses. Capital goods, realty and metal were the biggest losers and auto and power, too, contributed in the negativity. The Sensex was down 4.6% while the Nifty lost 4.7% during the week. The BSE Smallcap lost 6% and the CNX Midcap index closed with 5.5% loss.

  • The macro indicators in Indian markets are not encouraging, says Mehraboon Irani of Nirmal Bang Securities on NDTV Profit. The market is tilted slightly towards the short side and the Nifty could break 4620, he adds.

  • The uptrend of the market will resume only once we cross the Nifty level of 5100 but that is a far cry, says Sudarshan Sukhani, technical analyst, on CNBC TV18. For the time being, the downtrend will continue so go with the trend and trade accordingly, he adds.

NIFTY 3-Month