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Market Report

Thursday, 22-Dec-2011

NSE

  • It was a gap-down opening in the markets today but they made a U-turn in the last hour of trade to close with gains of around 0.75%. Realty, banking, consumer durables and auto were the best performers in today's session while oil & gas and capital goods, too, made substantial gains. IT remained the sole sector to close negative. The Sensex closed at 15813, up 128 points from its previous close, and the Nifty shut shop at 4734, up 41 points.

  • The top Nifty gainers today were DLF, PNB, Tata Motors and IDFC while the biggest losers included Wipro, Sesa Goa, Bharti Airtel and Cairn India.

  • India is likely to end the year as the second-worst-performing emerging market, says Ridham Desai of Morgan Stanley on CNBC TV18. This is the second-worst yearly performance after 2008, he adds. He believes India's macro situation looks worse than in 2010, with elevated levels of inflation and slowing growth.

  • The market is likely to give short-term bounces which should be used to sell into, says Anu Jain, technical analyst, on Zee Business. She sees 4900-4950 as the level to cover long positions.

  • The market is likely to find strong support at 4600 which is where traders will cover their shorts, says Prakash Gaba, technical analyst, on Zee Business. The upside is capped at 4750-4815, he adds.

  • Weekly inflation: Primary articles inflation for week ended December 10 has come in at 3.78% versus 5.48% (WoW), food articles inflation at 1.81% versus 4.35% (WoW) while fuel group inflation remains unchanged at 15.24% (WoW), reports NDTV Profit.

NIFTY 3-Month