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Market Report

Monday, 05-Mar-2012

NSE

  • The markets traded negative throughout the day and closed with substantial losses. Realty, metal, banking and capital goods were biggest laggards in today's session and oil & gas, power and consumer durables, too, dragged the indices down. FMCG was the only sector that closed positive. The Sensex closed at 17363, down 274 points from its previous close, and the Nifty shut shop at 5280, down 79 points.

  • The top Nifty gainers today were Reliance Infra, Reliance Power, Reliance Communications and IDFC while the biggest losers included JP Associates, Hindalco, DLF and GAIL.

  • This is an event-based month so one must exercise caution, says Anil Manghnani of Modern Shares and Stockbrokers on Zee Business. The market will remain in a tight range so buy on dips to 5210-5080 and sell on rallies to 5450-5490 in the short term, he advises.

  • An important level for the market is 5450 with key support at 5300, says Amit Gupta of ICICI Direct on Zee Business. Once the market comes out of this trading range would it then take a direction, he adds. If the Nifty slips below 5300 then more weakness could set in with eventual target at 5150, he adds.

  • The market is in for much volatility and we could even see levels of 5200, says Ambarish Baliga of Way2Wealth on Zee Business.

  • This is a market to sell into because we have tried to rally but without success, says Sudarshan Sukhani, technical analyst, on CNBC TV18.The upside is limited and I see the Nifty coming down to 5200, he adds.

NIFTY 3-Month