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Market Report

Wednesday, 18-Apr-2012


  • The markets lost significantly in the last few minutes of trade and closed with only moderate gains. FMCG traded negative throughout the day and later realty, banking and capital goods, too, came under selling pressure. Smallcap counters outperformed their largecap and midcap peers. Auto, healthcare and oil & gas did well today. The Sensex closed at 17392, up 34 points from its previous close, and the Nifty shut shop at 5300, up 10 points.

  • The top Nifty gainers today were ACC, Tata Power, HCL Tech and Ambuja Cements while the biggest losers included RCom, DLF, IDFC and Axis Bank.

  • The Repo rate cut by RBI yesterday surprised the street and suggests a continuing stance of monetary easing and FY13 could see a total rate cut of 100 bps, says Manish Hemrajani of Oppenheimer on CNBC TV18. That will be a positive for interest rate sensitive sectors such as autos, banks, realty and infrastructure, he adds.

  • If the Nifty closes above 5330 then add to long positions with a target of 5900-5950, says Sarvendra Srivastav, independent market analyst, on NDTV Profit. There is critical support at 5183-5200, he adds.

  • The level of 5150 appears to have established as a short-term floor and the bias now is positive, says Mitesh Thacker, technical analyst, on ET Now. We should inch higher towards 5360-5370 and once this is crossed then we could test 5475-5500, he adds.

NIFTY 3-Month