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Market Report

Tuesday, 24-Apr-2012

NSE

  • Led by IT and tech, the markets performed well today but the positive trend was confined to largecap counters. TCS made a huge stride with about 13% gains in a single session. Cement stocks lost substantially today and the negative trend prevailed in healthcare and banking counters, too. The Sensex closed at 17207, up 111 points from its previous close, and Nifty shut shop at 5223, up 22 points.

  • The top Nifty gainers today were TCS, SAIL, Wipro and HCL Tech while the biggest losers included Ambuja Cements, L & T, Kotak Mahindra Bank and ACC.

  • The Nifty is likely to hang around 5200-5230 till expiry but next month will provide many triggers, says Ashwani Gujral, technical analyst, on ET Now.

  • There is key support for the Nifty at 5145-5150 but this is likely to break in the next few days, says Mitesh Thacker, technical analyst, on ET Now.

  • We expect investors to stay nervous till the rupee shows some signs of stability, says Abhay Laijawala of Deutsche Securities on CNBC TV18. We expect investors to continue playing 'safe' and assigning a premium to predictability of earnings, he adds.

  • Emerging Market equities have stalled around 5% below their March high, implying momentum has been lost, says Geoffrey Dennis of Citigroup on CNBC TV18. Nonetheless, we expect an eventual breakout of markets to the upside in the weeks ahead, he adds. Citi is overweight markets like China and Brazil and Neutral on India, he says.

NIFTY 3-Month