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Market Report

Monday, 16-Jan-2012

NSE

  • The markets closed with moderate gains today with capital goods and IT being the best performers. Auto and FMCG, too, made significant gains but oil & gas and realty doused the upward movement and closed with substantial downside. The Sensex closed at 16189, up 35 points from its previous close, and the Nifty shut shop at 4874, up 8 points.

  • The top Nifty gainers today were Maruti Suzuki, BHEL, SBI and L & T while the biggest losers included Reliance Power, NTPC, Kotak Mahindra Bank and RIL.

  • The market is in a sideways range with stiff resistance at 4880, says Manish Shah of Fortune Financial Services on Zee Business. If the Nifty breaches 4800 on the downside then it could fall to 4750 in 1-2 days, he adds. In the short term, book profits at 4850, he advises.

  • The Nifty levels of 4860-4880 is a tricky zone and the market could fall to 4760-4770 which would be the right level to go long, says Anil Manghnani of Modern Shares and Stockbrokers on Zee Business.

  • The short-term pullback in the market looks to be over and now the medium term risk-rewards are negative, says Sarvendra Srivastav, independent market analyst, on NDTV Profit. Sell Nifty on a rise of 50-60 points for a target of 4700-4650 with the upside capped at 5000, he adds.

  • December inflation: Inflation for the month of December has come in at 7.47% versus 9.11% (MoM), reports NDTV Profit. Primary articles inflation has come in at 3.07% versus 8.53% (MoM), fuel group inflation at 14.91% versus 15.48% (MoM), food group inflation at 0.74% versus 8.54% (MoM) while manufactured products inflation has come in at 7.41% versus 7.7% (MoM), reports the channel. October inflation has been revised to 9.87% versus 9.73% (provisional), it adds.

NIFTY 3-Month