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Market Report

Friday, 17-Feb-2012

NSE

  • The markets traded with significant gains in morning but came under selling pressure in the afternoon to close with only moderate gains. Consumer durables, power, capital goods and banking were the lead gainers while auto and metal closed with moderate losses. The Sensex closed at 18289, up 135 points from its previous close, and the Nifty shut shop at 5564, up 42 points.

  • The top Nifty gainers today were BHEL, Tata Power, Axis Bank and Siemens while the biggest losers included Hero MotoCorp, Sesa Goa, Maruti and Siemens.

  • The markets closed with significant gains for the seventh consecutive week and barring oil & gas, all sectoral and both benchmark indices closed positive. Realty, power, auto and banking remained the lead performers and IT and metal, too, provided support to the indices. The Sensex was up 2.9% while the Nifty gained 3% during the week. The CNX Midcap index was up 5%, BSE Smallcap gained 3.5% and the Bank Nifty closed with 6% gain over the week.

  • The Nifty has crossed the 5600 level, for the first time since July 26, 2011, following strong buying in heavyweights like BHEL, L&T and SBI, reports CNBC Awaaz. At 10:25am Sensex was trading at 18413, up 259 points from its previous close, and Nifty was at 5601, up 80 points.

  • As long as the Nifty stays above 5550, buy on dips with a target of 5700, says Prabir Kumar Sarkar of SPA Securities on CNBC Awaaz.

  • There is resistance for the market at 5617 and then 5646 so hold on to long positions with a stop loss of 5480-5435, says Prakash Gaba, technical analyst, on Zee Business.

  • This is a bull market and so stay invested, says Surjit Bhalla, market analyst, on NDTV Profit. Worst for global markets is behind us and I do not anticipate any financial accidents, he adds. He believes that the Indian government is starting to move on reforms.

  • The market can go higher from here on but I do not think this is a bull market, says Rohit Shrivastav of Sharekhan on NDTV Profit. People are getting bullish because they can see inflation and interest rates coming down, he adds. He believes that the government has no choice but to increase spending and this spending could see inflation go up quickly.

NIFTY 3-Month