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Market Report

Wednesday, 11-Jan-2012

NSE

  • It was a rangebound trade in the markets today with realty, metal and banking closing with significant gains. Other sectors that closed positive include capital goods and oil & gas. FMCG and IT remained the only two sectors that closed negative. The Sensex closed at 16176, up 11 points from its previous close, and the Nifty shut shop at 4861, up 11 points.

  • The top Nifty gainers today were Hindalco, Sesa Goa, Axis Bank and Sterlite Industries while the biggest losers included Power Grid, TCS, Jindal Steel and Grasim.

  • We expect the Nifty to test 4970-5000, says Sanjeev Bhasin, investment advisor, on NDTV Profit. There is money to be made in this market and the focus should be on midcap and smallcap stocks, he adds.

  • Global markets are likely to see some selling pressure and we could see the market fall from 4800 to 4600, says Rohit Shrivastav of Sharekhan on NDTV Profit. I wouldn't jump to bullish conclusion so fast, he adds.

  • We can now say that a prolonged uptrend has started and the target for that is 4930, says Prakash Gaba, technical analyst, on Zee Business. There is important support for the Nifty now at 4800, he adds.

  • There is a possibility of a 200-points upmove now that the market has given a closing above 4800, says Ashwani Gujral, technical analyst, on ET Now. If you get another big day of a 100-120 point rally, start taking profits, he adds.

NIFTY 3-Month