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Market Report

Monday, 12-Mar-2012

NSE

  • The markets lost significant part of morning gains to close only moderately positive. Capital goods, consumer durables and realty were the biggest gainers in today's session and banking and oil & gas, too, supported the indices well. Weakness came from IT and tech. The Sensex closed at 17588, up 84 points from its previous close, and the Nifty shut shop at 5360, up 26 points.

  • The top Nifty gainers today were SBI, L & T, RIL and Siemens while the biggest losers included Mahindra & Mahindra, ONGC, TCS and Cipla.

  • The bulls have an upper hand and my Nifty target remains 6000-6050, says Sarvendra Srivastav, independent market analyst, on NDTV Profit. Reversal is pegged at 5164 levels, he adds.

  • Today, the Nifty needed to remain above 5322 for the market to stay positive, says Ashwani Gujral, technical analyst, on ET Now. There is support at 5302 and 5271 with resistance coming in at 5373, he adds.

  • The correction appears to be over and the market has bounced back from strong support levels, says Mitesh Thacker, technical analyst, on ET Now. The long-term picture is strong but in the short term we appear to be in a consolidation mode, he adds. He expects the Nifty to remain in a broad range with the upside at 5475-5520.

  • January IIP data has come out at 6.8% versus 1.8% (MoM), reports CNBC TV18. Manufacturing sector growth has come in at 8.5% versus 8.1% (YoY), mining sector growth at (-)2.7% versus 1.7% (YoY) while consumer durable sector growth is at (-)6.8 versus 12.5% (YoY), reports NDTV Profit. Electricity sector growth has come in at 3.2% versus 10.5% (YoY), capital goods growth at -1.5% versus 5.3% (YoY), consumer non-durable goods growth at 42.1% versus 5% (YoY), basic goods growth at 1.6% versus 7.7% (YoY), it reports. Intermediate goods sector growth has come in at (-) 3.2% versus 7.4% (YoY), consumer goods growth at 20.2% versus 8.3% (YoY), April-Jan IIP data at 4% versus 8.3% (YoY) while December IIP data has been revised to 2.5% from 1.8% earlier, reports the channel.

NIFTY 3-Month