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Market Report

Monday, 23-Apr-2012


  • Negative global cues took their toll on the markets today with both benchmark indices and all sectoral indices closing deeply in the red. Metal, realty, capital goods and tech were the worst performers in today's session and power and banking, too, lost significantly. ADAG stocks also closed with sharp declines. The Sensex closed at 17097, down 277 points from its previous close, and Nifty shut shop at 5201, down 90 points.

  • The top Nifty gainers today were ACC, Sun Pharma, RIL and NTPC while the biggest losers included Reliance Power, Reliance Communications, Reliance Infra and Jindal Steel.

  • We are looking at a rangebound market for the next two weeks before we start to get a direction, says Mitesh Thacker, technical analyst, on ET Now. Bank Nifty has looked particularly weak following RBI's credit policy, he adds.

  • Action should be stock specific in this rangebound market which is likely to remain in a band of 5200 and 5400, says Amit Gupta of ICICI Direct on Zee Business.

NIFTY 3-Month