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Market Report

Wednesday, 04-Jan-2012

NSE

  • It was a subdued day for the Indian market which opened flat and traded within a narrow range on the back of mixed global cues. Pressure was seen in cement, auto and telecom sectors but some buying was witnessed in capital goods and private banks. Sensex shut shop at 15882, down 56 points and Nifty at 4749, down 15 points from the previous close.

  • Top Nifty gainers today were HCL Technologies, Tata Motors and Reliance Infrastructure while losers included Bajaj Auto, Mahindra & Mahindra and ACC.

  • The bias of the market is positive and the Nifty could cross 4800 and go up to 4820-4850 with a likely target of 4920-4950 in 5-10 days, says Shardul Kulkarni of Angel Broking on CNBC Awaaz.

  • The market is moving upwards and we could see an upside target of 4810-4840 at which point supply will emerge, says Mitesh Thacker, technical analyst, on ET Now. The next target on the Nifty would be 4920-4950, he adds.

  • As inflation subsides, central banks will continue to ease in Asia-ex Japan, says Markus Rosgen of Citigroup on CNBC TV18. He feels this is good for equities especially interest-rate sensitives, such as banks, industrials, commodities and real estate. While, Hong Kong, Korea and Taiwan are Overweights, India and ASEAN are still Underweights, he adds.

NIFTY 3-Month