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Market Report

Friday, 13-Jan-2012

NSE

  • The markets closed with moderate gains today with metal, capital goods and realty being the biggest gainers. Banking and FMCG also supported the indices well and ADAG group stocks, too, made significant gains. The Sensex closed at 16155, up 117 points from its previous close, and the Nifty shut shop at 4866, up 35 points.

  • The top Nifty gainers today were Reliance Power, Tata Steel, RCom and Coal India while the biggest losers included GAIL, Bajaj Auto, Maruti and HCL Tech.

  • The markets closed positive for the second consecutive week, with realty, metal and banking being the biggest gainers. Capital goods and auto, too, made substantial gains. The Sensex was up 1.6% while the Nifty gained 2.2% during the week. The CNX Midcap index was up 5.7%, the BSE Smallcap gained 7% and the Bank Nifty was up 6%.

  • The structure of the market is still positive and upmove is likely to continue to 4930, says Prakash Gaba, technical analyst, on Zee Business. He sees strong support at 4800.

  • The market is likely to see some profit booking but the daily and weekly charts are still showing some strength, says Mitesh Thacker, technical analyst, on ET Now. So the strategy should be to buy on dips with 4800-4780 providing good support, he adds.

  • The market is likely to remain rangebound and the midcap outperformance may be short-lived, says Ambareesh Baliga of Way2Wealth on NDTV Profit. The earnings season has started off on a good note, he adds.

NIFTY 3-Month