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Market Report

Friday, 20-Jan-2012

NSE

  • The markets made moderate gains today and banking and consumer durables outperformed all other indices. Power, oil & gas, auto and realty, too, made substantial gains but FMCG lost significantly because of poor performance of ITC. The Sensex closed at 16739, up 95 points from its previous close, and the Nifty shut shop at 5048, up 30 points.

  • The top Nifty gainers today were Bajaj Auto, Axis Bank, ICICI Bank and Kotak Mahindra Bank while the biggest losers included ITC, Dr Reddy's, Reliance Power and Reliance Infra.

  • Led by banking, the markets closed positive for the third consecutive week. Auto, capital goods and oil & gas, too, made significant gains. The Sensex was up 3.8% while the Nifty gained 4% during the week. The CNX Midcap index was up 2.4%, the BSE Smallcap gained 1.7% and the Bank Nifty was up 6%.

  • There is major resistance for the market at 5050 but if this is crossed then we could see a rally of 100-125 points which could take the Nifty up to 5150-5175, says Kunal Saraogi, technical analyst, on Zee Business.

  • There are resistances for the Nifty at 5050 and then 5170, says Anu Jain, technical analyst, on Zee Business. In this run, the market could move up to maximum 5250-5270, she adds.

  • A mild upward momentum should continue and as long as we remain above 5010 positive trend will remain, says Ashwani Gujral, technical analyst, on ET Now.

NIFTY 3-Month