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Market Report

Friday, 18-May-2012


  • The markets gained significantly in the last one hour after SBI reported robust performance in Q4. Along with banking, FMCG, oil & gas and metal, too, closed with significant gains. Auto, capital goods and realty closed with substantial declines. The Sensex closed at 16153, up 82 points from its previous close, and the Nifty shut shop at 4891, up 21 points.

  • The top Nifty gainers today were SBI, Sesa Goa, Grasim and IDFC while the biggest losers included Tata Motors, Ambuja Cements, Maruti Suzuki and Bajaj Auto.

  • The markets remained inconsistent this week, the trend generally being negative. Both benchmark indices closed in the red and barring healthcare, all sectoral indices, too, closed negative. The Sensex was down 1% and Nifty lost 0.8% over the week. The CNX Midcap index was down 1.7% while the Bank Nifty closed with 1% decline.

  • The short-to-medium term outlook of the market is negative, says Somil Mehta of Sharekhan on Zee Business. Sell on all rallies, he advises.

  • There is strong support for the Nifty at 4768 and then 4720, says Hemen Kapadia, technical analyst, on Zee Business.

  • Hold short positions in the Nifty with a target of 4650 and trailing stop loss of 4926, says Sarvendra Srivastav, independent market analyst, on NDTV Profit.

NIFTY 3-Month