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Market Report

Friday, 09-Mar-2012

NSE

  • The markets made robust gains today with metal, capital goods, banking and consumer durables being the biggest gainers in today's session. Other sectors with significant gains included realty, auto and power. FMCG was the only sector that closed negative. The Sensex closed at 17503, up 358 points from its previous close, and the Nifty shut shop at 5334, up 113 points.

  • The top Nifty gainers today were Jindal Steel, Tata Steel, ICICI Bank and IDFC while the biggest losers included Wipro, Reliance Power, Infosys and Siemens.

  • The markets closed with moderate declines this week with oil & gas and power being the biggest losers. Banking, IT and auto supported the indices well. The Sensex was down 0.8% while the Nifty lost 0.5% during the week. The CNX Midcap index was up 0.24%, BSE Smallcap lost 1.6% and the Bank Nifty closed with 0.3% gain over the week.

  • Buy Nifty with a target of 5500 and stop loss of 5080, says Krunal Dayma of First Step Capital on Zee Business.

  • Go long in the Nifty above 5360 with a target of 5425, says D Prasad, technical analyst, on Zee Business.

  • We are likely to trade rangebound in the near term, between 5150 and 5400, says Sandeep Wagle of Aptart India on ET Now. Action should be stock specific for small moves on either side of 5-7%, he adds. He expects IT stocks to outperform and metal stocks to crack down.

  • Till the Budget we are likely to stay rangebound, between 5200 and 5400, with no great momentum or heavy volumes, says Ashwani Gujral, technical analyst, on ET Now.

NIFTY 3-Month