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Market Report

Monday, 16-Apr-2012

NSE

  • The markets closed with moderate gains today with interest-rate sensitive sectors being the best performers. Led by Tata Motors, auto gained significantly today and banking, capital goods and realty, too, provided a boost to the markets. IT and tech were the worst performers in today's session and primarily, it was Infosys that dragged the sectoral indices down. Telecom and cement stocks, too, performed badly today. The Sensex closed at 17151, up 56 points from its previous close, and the Nifty shut shop at 5226, up 19 points.

  • The top Nifty gainers today were Tata Motors, JP Associates, Axis Bank and SBI while the biggest losers included Ambuja Cements, ACC, Bharti Airtel and Infosys.

  • Market sentiments could get a boost if there is a 25 bps rate cut in the RBI Credit Policy tomorrow, says VK Sharma of HDFC Securities on ET Now. He does not see the Nifty going higher than 5378.

  • There is more of a possibility of a downward break and it is also likely that we could break the support level of 5150 and go lower with the next target on the Nifty at 4950, says Mitesh Thacker, technical analyst, on ET Now. It is unlikely that the market would break above 5300, he adds.

  • The view is that we are going down and this week will be news-driven with mild volatility today and more volatility tomorrow, says Sudarshan Sukhani, technical analyst, on CNBC TV18. It is not possible to trade in this market but those wanting to take positional calls should create shorts in Options, he advises.

  • March inflation has come in at 6.89% versus 6.95% (MoM), reports NDTV Profit. Food articles inflation for March has come in at 9.94% versus 6.07% (MoM), primary articles inflation at 9.62% versus 6.28% (MoM), fuel group inflation at 10.41% versus 12.83% (MoM) while manufactured products inflation is at 4.87% versus 5.75% (MoM), reports ET Now. January inflation has been revised to 6.89% versus 6.55%, it adds.

NIFTY 3-Month