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Market Report

Monday, 27-Feb-2012

NSE

  • Selling pressure took its toll on the markets today with the Nifty closing below its psychologically important level of 5300. Realty, metal, power and banking were the worst performers in today's session and auto and consumer durables, too, were beaten severely. Stocks of oil marketing companies have made some gains on the expectation that the government would increase the prices of petrol and diesel. FMCG, too, closed positive. The Sensex closed at 17446, down 478 points from its previous close, and the Nifty shut shop at 5281, down 148 points.

  • The top Nifty gainers today were BPCL, Cipla, ITC and HUL while the biggest losers included Sesa Goa, SAIL, Hero MotoCorp and Reliance Power.

  • The correction phase we are seeing now is healthy for the market, says Anil Manghnani of Modern Shares and Stockbrokers on Zee Business. Going ahead, a crucial support level for the Nifty would be 5250-5200, he adds.

  • The market is likely to take a breather now after seeing the recent vertical run-up with resistance for the Nifty at 5500-5550, says Sarvendra Srivastav, independent market analyst, on NDTV Profit.

NIFTY 3-Month