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Market Report

Thursday, 12-Jan-2012

NSE

  • Owing to weakness in IT, the markets closed weak today, though banking, auto and metal provided good support to the indices. Oil & gas and capital goods, too, lost moderately. Broader markets outperformed largecap counters and that led to market breadth being positive. The Sensex closed at 16037, down 138 points from its previous close, and the Nifty shut shop at 4831, down 30 points.

  • The top Nifty gainers today were Sesa Goa, IDFC, JP Associates and Grasim while the biggest losers included Infosys, TCS, HCL Tech and Wipro.

  • Today, the Nifty needed to stay above 4859 to remain positive, says Ashwani Gujral, technical analyst, on ET Now. Yesterday, we saw the market trade in a 40-point range and a break on either side could see a large move, he adds.

  • We have been in profit taking mode and volatility is likely to continue, says Mitesh Thacker, technical analyst, on ET Now. As long as we stay above 4780-4800, I would remain long, he adds. He believes the Nifty could move up to 5050-5070.

  • This is a trading market and so stay out of it till the Infosys results and IIP data have been digested, says Mehraboon Irani of Nirmal Bang Securities on NDTV Profit. In the short term, we see a target of 5000-5100 on the Nifty, he adds.

  • IIP Data: The November IIP data has come out as 5.9% versus -5.1% (MoM) and 6.4% (YoY), reports NDTV Profit. April-November IIP growth is at 3.8%, it adds. Capital goods sector growth is at -4.6% versus -25.5% (MoM), electricity growth at 14.6% versus 5.6% (MoM), manufacturing sector growth at 6.6% versus -6% (MoM), mining sector growth at -4.4% versus -7.2% (MoM), basic goods growth at 6.3% versus -0.1% (MoM), intermediate goods growth at 0.2% versus -4.7% (MoM), consumer durable goods growth at 11.2% versus -0.3% (MoM) while non-durable goods growth is at 14.8% versus -1.3% (MoM), reports ET Now.

  • Weekly inflation: Primary articles inflation for week ended December 31 has come in at 0.51% versus 0.10% (WoW), food articles inflation at -2.90% versus -3.36% (WoW) while fuel group inflation is at 14.45% versus 14.60% (WoW), reports ET Now.

NIFTY 3-Month