IntradayTrade dot Net
Market Report

Monday, 19-Dec-2011


  • The markets faced immense selling pressure throughout the day but recovered significantly in the last hour of trade to close with losses of only three-fourth of a percent. Banking, capital goods and realty suffered the most in today's session while oil & gas, FMCG and auto provided some support to the indices. The Sensex closed at 15379, down 112 points from its previous close, and the Nifty shut shop at 4613, down 38 points.

  • The top Nifty gainers today were Tata Motors, Cairn India, SAIL and Coal India while the biggest losers included Axis Bank, L & T, PNB and RCom.

  • Indian economic slowdown is on expected lines and we expect 2013 GDP to grow at 6-6.5% due to growth slowdown, says Jim Walker of Asianomics on ET Now. Rupee depreciation shows lack of investor confidence in India and higher fiscal deficit will not help attract FII investors, he adds. He is worried about rating agencies downgrade of India.

  • The trend of the market is still down and this continues to be a bear market, says Sudarshan Sukhani, technical analyst, on CNBC TV18. Continue to stay on the short side and there is no need to cover short positions, he adds.

  • The next target on the Nifty is now 4200 and it will important to see where the base is formed, says Ashwani Gujral, technical analyst, on ET Now.

NIFTY 3-Month