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Market Report

Friday, 16-Mar-2012

NSE

  • It was a volatile trade in the markets today and barring FMCG and auto, all sectoral indices closed negative. Oil & gas and power were the biggest losers in today's trade and capital goods, metal and banking, too, lost significantly. The Sensex closed at 17466, down 210 points from its previous close, and the Nifty shut shop at 5318, down 63 points.

  • The top Nifty gainers today were ITC, Mahindra & Mahindra, Ambuja Cements and Maruti Suzuki while the biggest losers included Sun Pharma, Cairn, ONGC and Siemens.

  • The markets closed flat this week with realty, IT and oil & gas being the biggest losers. The Sensex was up 0.08% while the Nifty gained 0.05% during the week. The CNX Midcap index was down 0.4%, BSE Smallcap lost 0.4% and the Bank Nifty closed with 0.5% loss over the week.

  • The market is likely to stay in a range with 5200 on the downside and 5500 on the upside, says Jagannadham Thunuguntla of SMC Global on CNBC Awaaz. The level of 5180 is strong support and the Nifty is unlikely to breach it on the downside, he adds.

  • The market is expected to gain irrespective of the Budget, says Shankar Sharma of First Global on ET Now. He expects interest rates to decline this year, he adds.

  • The current Indian market rally is led by lower inflation, says Adrian Mowat of JP Morgan on ET Now. The FIIs do not have any expectations from the Budget and the markets hope that it won't be populist, he adds. He believes that the government's political mandate is weak.

  • The government has no option but to raise diesel prices and we expect diesel prices to go up post Budget, says Sanjeev Prasad of Kotak Securities on ET Now. Government should focus on fiscal consolidation, he adds.

NIFTY 3-Month