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Market Report

Tuesday, 24-Jan-2012

NSE

  • The markets made handsome gains today with interest rate sensitive sectors being the biggest gainers in today's session. Banking outperformed all other sectors after the announcement of the CRR cut while capital goods, metal and realty, too, made smart gains. FMCG was the only sector that closed with only moderate gains. The Sensex closed at 16996, up 244 points from its previous close, and the Nifty shut shop at 5127, up 81 points.

  • The top Nifty gainers today were L & T, IDFC, SBI and JP Associates while the biggest losers included Grasim, Coal India, DLF and Sun Pharma.

  • I would not trade till the market has not taken a clear direction and expect the market to be choppy and in some kind of a consolidation, says Sudarshan Sukhani, technical analyst, on CNBC TV18. If the Nifty crosses 5100 then we could see the uptrend resume, he adds.

  • The market may be slightly oversold and could be going into consolidation mode, says Mitsh Thacker, technical analyst, on ET Now. Profit booking could come in at higher levels but the trend is clearly on the upside, he adds. He believes the CNX IT has gone into corrective mode and is dragging the index down.

NIFTY 3-Month