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Market Report

Thursday, 31-May-2012

NSE

  • The markets recovered in the last half-an-hour to close with only moderate losses. Auto was the biggest laggard in today's session and banking, consumer durables and capital goods, too, lost significantly. Realty, IT and tech supported the indices well. The Sensex closed at 16219, down 94 points from its previous close, and the Nifty shut shop at 4924, down 26 points.

  • The top Nifty gainers today were JP Associates, Asian Paints, IDFC and SAIL while the biggest losers included Maruti, ICICI Bank, Tata Motors and Jindal Steel.

  • Markets may now have to deal with a tail event as the macro environment gets challenging and conviction in earnings outlook is low, says Ridham Desai of Morgan Stanley on CNBC TV18. However, equities are cheap, and that is usually when they generate returns, he adds.

  • Aggressive traders can take a short call on a rally with a stop loss of 5050, Sarvendra Srivastav, independent market analyst, on NDTV Profit.

  • The Nifty needs to trade above 4958 for the market to remain positive, says Ashwani Gujral, technical analyst, on ET Now. There is support at 4935 and 4920 with resistance at 4973 and 4996, he adds.

  • Q4 GDP growth has come in at 5.3% versus 6.1% (QoQ), FY12 GDP growth is at 6.5% versus 6.9% (provisional), reports CNBC Awaaz. Construction sector growth is at 4.8% versus 8% (YoY) and farm sector growth at 1.7% versus 7.5% (YoY), Mining sector growth is at 4.3% versus 0.6% (YoY) and manufacturing sector growth at -0.3% versus 7.6% (YoY), reports CNBC TV18.

NIFTY 3-Month