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Market Report

Tuesday, 28-Feb-2012

NSE

  • The markets made robust gains today with interest rate sensitive sectors gaining the most. Realty, capital goods, banking and power were the best performers in today's session while metal and auto, too, made substantial gains. FMCG and IT were the only two sectors that closed negative. The Sensex closed at 17731, up 285 points from its previous close, and the Nifty shut shop at 5375, up 94 points.

  • The top Nifty gainers today were Reliance Infra, JP Associates, Reliance Power and IDFC while the biggest losers included Cairn India, TCS, BPCL and Wipro.

  • Till the Budget, the market is likely to remain choppy and soft but this would provide a good opportunity for investors to go long with a 1-2 year view, says Avinash Gorakshakar of Moneyinvestment.in on NDTV Profit.

  • After this correction is over we will see another leg of upmove and this time, the uptrend would be sharper, says Sarvendra Srivastav, independent market analyst, on NDTV Profit. In the next rally, the Nifty could go up to 5630 and break past this level, he adds.

  • The medium term outlook for the market still looks positive but in the short term, we could go into some kind of a time-wise correction, says Mitesh Thacker, technical analyst, on ET Now. I would still be a buyer on dips, he adds.

  • We could see some kind of a resumption of a rally or bounceback and need to go past 5400 for the rally to start, says Ashwani Gujral, technical analyst, on ET Now. The Nifty needs to remain above 5332 in order to stay positive, he adds.

NIFTY 3-Month