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Market Report

Tuesday, 13-Mar-2012

NSE

  • The markets closed with robust gains today with all sectoral indices closing in the green. The Nifty closed above its psychologically important level of 5400. Metal, oil & gas and realty were the best performers in today's session and power and capital goods, too, made significant gains. The Sensex closed at 17814, up 226 points from its previous close, and the Nifty shut shop at 5429, up 70 points.

  • The top Nifty gainers today were Sterlite Industries, Sesa Goa, SAIL and GAIL while the biggest losers included Wipro, Mahindra & Mahindra, Reliance Infra and Tata Motors.

  • As long the Nifty support of 5200 holds, there should be no panic, says Azim Ahmed of ICICI Securities on Zee Business. There is resistance at 5450 and until this is not crossed the market will remain rangebound till the Budget, he adds.

  • In the short term, the range of the market is likely to be 5300 to 5500, says Prabir Kumar Sarkar of Kalyani Consultancy on Zee Business. If the Nifty is able to close above 5450 then we could see an upmove to 5500, he adds. He advises buying on declines.

  • The daily momentum of the market has picked up and now 5630 is within striking range, says Sarvendra Srivastav, independent market analyst, on NDTV Profit. He sees a target of 6050 on the Nifty with immediate supports at 5290-5300.

NIFTY 3-Month