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Market Report

Wednesday, 04-Apr-2012

NSE

  • The markets lost moderately today with realty, metal and banking being the biggest laggards. Oil & gas, auto and tech, too, lost significantly and power and consumer durables were the only two sectors that closed positive. The Sensex closed at 17486, down 111 points from its previous close, and the Nifty shut shop at 5323, down 36 points.

  • The top Nifty gainers today were BHEL, Ranbaxy, Dr Reddy's and Cairn India while the biggest losers included Jindal Steel, GAIL, JP Associates and Cipla.

  • The markets closed with moderate gains this week with smallcap counters outperforming midcap and largecap stocks. Power and oil & gas gained the most this week. The Sensex was up 0.4% and the Nifty also gained 0.4% during the week. The CNX Midcap index was up 1.2%, the BSE Smallcap was up 3.2% and the Bank Nifty closed with 1% gain over the week.

  • The next couple of weeks could be sideways consolidation for the market, says Mitesh Thacker, technical analyst, on ET Now. There is crucial support for the Nifty at 5150 with 5280-5300 being important levels, he adds. We could remain in a range of 5280-5450 before breaking on the upside, he says.

  • The market is likely to trade in a range of 5150 and 5400, says Sarvendra Srivastav, independent market analyst, on NDTV Profit. He sees 5400 as a short-term hurdle.

  • The market is coming for some consolidation which could bring it down by 80-90 points and in the short term, it could stay within the 5200-5450 band, says Sandeep Wagle of Aptart India on ET Now. There is strong support for the Nifty at 5280-5290, he adds.

NIFTY 3-Month