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Market Report

Monday, 14-May-2012

NSE

  • The markets closed with significant losses today, pulled down primarily by banking, oil & gas and realty. Power and auto, too, closed with significant losses while healthcare, consumer durables and IT gained substantially. The Sensex closed at 16216, down 77 points from its previous close, and the Nifty shut shop at 4908, down 21 points.

  • The top Nifty gainers today were Asian Paints, Ranbaxy, Sesa Goa and BPCL while the biggest losers included Cairn India, Bank of Baroda, SAIL and Reliance Infra.

  • If the Nifty crosses 5050 then short covering can take it up to 5170-5180, says Amit Gupta of ICICI Direct on Zee Business. At higher levels we would see selling pressure and then rangebound market and below 4900 the Nifty could fall to 4750-4730, he adds.

  • We could see rallies of 70-80 points which should be used to sell into, says Ashwani Gujral, technical analyst, on ET Now.

  • Bias of the market is on the downside though we could see a rally of 30-40 or 70-80 points which should be used to go short, says Sandeep Wagle of Aptart India on ET Now.

  • Earning season so far has been in line with more than 40% earnings beating expectations, says Nandan Chakraborty of Enam on CNBC TV18. While it's too early to discern trends, earnings growth seems marginally better than expected, he adds.

  • April inflation has come in at 7.23% versus 6.89% (MoM), reports NDTV Profit. Primary articles inflation is at 9.71% versus 9.62%, fuel group at 11.03% versus 10.41%, manufactured products at 5.12% versus 4.87% while food group inflation is at 10.49% versus 9.94% (MoM), reports CNBC TV18. February inflation data has been revised to 7.36% versus 6.95% (prov), reports CNBC Awaaz.

NIFTY 3-Month