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Market Report

Wednesday, 29-Feb-2012


  • The markets closed flat after trading rangebound throughout the day. Oil & gas, realty and metal were the best performers of today's trade while capital goods, banking and FMCG lost substantially. The Sensex closed at 17753, up 22 points from its previous close, and the Nifty shut shop at 5385, up 10 points.

  • The top Nifty gainers today were SAIL, ONGC, Wipro and Sesa Goa while the biggest losers included L & T, HDFC Bank, Siemens and Jindal Steel.

  • As long as the Nifty holds the level of 5200-5170 one could remain long with a 1000 point target and 200 point stop loss, says Sarvendra Srivastav, independent market analyst, on NDTV Profit.

  • The Nifty is likely to trade in the range of 5550 and 5420, says Ashish Chaturmotha of IIFL Wealth on Zee Business. Go long at 5430-5420 with a target of 5550, he adds.

  • The market is likely to remain in a range of 5550 on the upside and 5280 on the downside, says Mitesh Thacker, technical analyst, on ET Now. In the short term, the rally may not produce much and there are still no signals indicating that the uptrend has resumed, he adds. He advises being stock specific.

  • The Q3 GDP data has come in at 6.1% versus 6.9% in Q2, reports NDTV Profit. Q3 farm sector growth has come in at 2.7% versus 11% (YoY), manufacturing sector growth at 0.4% versus 7.8% (YoY), construction sector growth at 7.2% versus 8.7% (YoY) and mining sector growth is at -3.1% versus 6.1% (YOY), it reports. Q3 services sector growth has come in at 8.9% versus 7.7% (YoY) and trade and hotels sector growth at 9.2% versus 9.8% (YoY), reports the channel.

NIFTY 3-Month