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Market Report

Tuesday, 06-Mar-2012

NSE

  • The markets lost substantially with metal and power being the biggest laggards in today's session. Expected lower GDP growth in China also played a role in pulling metal stocks down. FMCG, consumer durables and IT were the only three sectors that managed to close positive. The Sensex closed at 17173, down 190 points from its previous close, and the Nifty shut shop at 5222, down 58 points.

  • The top Nifty gainers today were DLF, Siemens, ITC and Mahindra & Mahindra while the biggest losers included Reliance Power, Tata Steel, Hindalco and Reliance Infra.

  • In the short term, the structure of the market is weak and till the Nifty is not able to cross 5400, the downtrend will continue, says Prakash Gaba, technical analyst, on Zee Business.

  • As long as the global markets are down, the Indian market cannot be expected to go up sustainably, says Ashwani Gujral, technical analyst, on ET Now. He thinks the Nifty could test 5200-5150 in the next few days and this would provide good buying opportunity.

  • The medium-term outlook is intact but we could come in for some pain in the short term and could see the Nifty fall another 100 points, says Mitesh Thacker, technical analyst, on ET Now.

NIFTY 3-Month