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Market Report

Friday, 23-Mar-2012

NSE

  • The markets performed well today and barring consumer durables and metal, all sectoral indices closed positive. Tech, realty, IT and banking were the lead performers in today's session and FMCG and auto, too, closed with significant gains. The Sensex closed at 17362, up 165 points from its previous close, and the Nifty shut shop at 5278, up 50 points.

  • The top Nifty gainers today were JP Associates, Ambuja Cements, Hero MotoCorp and Bharti Airtel while the biggest losers included Jindal Steel, Maruti, Siemens and Coal India.

  • The markets closed with moderate declines this week with metal, power and oil & gas being the biggest losers. Healthcare and IT closed positive. The Sensex was down 0.7% while the Nifty lost 0.8% during the week. The CNX Midcap index was up 0.2%, BSE Smallcap lost 1.2% and the Bank Nifty closed with 0.8% loss over the week.

  • India has 15-20% upside from here, on continued favourable global liquidity conditions, says Jason Todd of Religare on CNBC TV18. Our positive stance is built on our growing belief in a US recovery and lower possibility of a shock from Europe, he adds.

  • The overall health of the market is damaged and it seems likely that we could break below 5160, says Mitesh Thacker, technical analyst, on ET Now. Heavyweights in the banking space and also RIL are not showing any momentum on the upside in the short term, he adds.

  • The market appears to have formed a base at 5000 and is likely to remain in a range of 5300 and 5000, says Azim Ahmed of ICICI Direct on Zee Business. If the Nifty breaks below 5230 then it could be negative for the market, he adds.

  • Hold long positions in the Nifty with an intra-day stop loss of 5169, says Sarvendra Srivastav, independent market analyst, on NDTV Profit. The short-term picture of the market is not clear and crucial level on the Nifty now is 5150-5100 from where we could see a medium-term reversal, he adds.

NIFTY 3-Month