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Market Report

Monday, 06-Feb-2012

NSE

  • Despite weakness in Europe, the markets managed to close with moderate gains with realty being the lead gainer. Capital goods and metal, too, did well in today's session and oil & gas and healthcare were the only two sectors that closed in the red. The Sensex closed at 17707, up 102 points from its previous close, and the Nifty shut shop at 5362, up 36 points.

  • The top Nifty gainers today were ACC, Ambuja Cements, Siemens and Cairn while the biggest losers included Tata Power, HUL, Sun Pharma and Dr Reddy's.

  • Confidence is slowly returning in the market though fundamentally not much has changed, says Sajeev Dhavan of JV Capital Services on ET Now. We could see the market consolidating between 5200 and 5400, he adds.

  • The trend of the market is up and so continue to hold long positions in the Nifty, says Manish Shah of Fortune Financial Services on Zee Business.

  • We might see consolidation going ahead but overall, the trend is up and in 2-3 months we could see the Nifty at around 5600, says Sandeep Wagle of Aptart on ET now. In the short term, the target is 5430 and as long as the Nifty stays above 5230-5200, the bias will remain positive, he adds.

NIFTY 3-Month