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Market Report

Tuesday, 17-Jan-2012

NSE

  • The markets made robust gains today with all sectoral indices closing in the green. The rally was primarily led by largecap counters, though smallcap and midcap counters, too, closed positive. Metal, capital goods and realty remained the best performers in today's session and auto and oil & gas also made sharp gains. The Sensex closed at 16466, up 277 points from its previous close, and the Nifty shut shop at 4967, up 93 points.

  • The top Nifty gainers today were Maruti Suzuki, Hindalco, JP Associates and L & T while the biggest losers included Ranbaxy, ICICI Bank, GAIL and TCS.

  • The short-term pullback in the market looks complete and upside appears capped at 4950-5000, says Sarvendra Srivastav, independent market analyst, on NDTV Profit. He sees a possible downside to 4700-4650.

  • Falling inflation, possibility of rate cuts and some stabilisation in global markets have led to a false relief rally, says Rakesh Arora of Macquarie on CNBC TV18. Lots of beaten down stocks have made 20-30% jump, but we feel it's a good time to clean up your portfolio, he adds.

  • We are now closer to a breakout point and banking stocks have caught the momentum again, says Mitesh Thacker, technical analyst, on ET Now. We could see some supply come in at 4950 but overall, towards F&O expiry we should be closer to 5000-5050, he adds.

  • Though headwinds continue, we are Neutral on India with a 2012 Sensex target of 16500, says Jitendra Sriram of HSBC on CNBC TV18. Our key themes this year are domestic consumption like autos, telcos, banks, import substitute resources and exporters like pharma and IT, he adds.

NIFTY 3-Month