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Market Report

Monday, 26-Mar-2012

NSE

  • Fear that investment from Mauritius may face taxes brought FIIs under duress and panic selling took its toll on the markets. All sectoral indices closed negative and the Nifty closed below its psychologically important level of 5200. Realty, power, banking and metal were the biggest losers in today's session and oil & gas and capital goods, too, lost significantly. The Sensex closed at 17053, down 309 points from its previous close, and the Nifty shut shop at 5184, down 94 points.

  • The top Nifty gainers today were JP Associates, Kotak Mahindra Bank, ITC and Dr Reddy?s while the biggest losers included IDFC, Sesa Goa, Axis Bank and Tata Power.

  • The market appears to be in a contraction phase which would make it trade sideways, says Ashwani Gujral, technical analyst, on ET Now. As long as 5200-5150 holds, we should not be too worried, he adds.

  • The situation of liquidity would be easing after RBI steps, says union finance minister. (Courtesy: Bloomberg UTV)

  • (No other Expert comments)

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