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Market Report

Friday, 08-June-2012

NSE

  • A late rally in the markets enabled the indices to close with significant gains with capital goods, realty, FMCG, power and banking being the lead gainers. IT and tech were the worst performers in today's session and consumer durables and healthcare, too, closed with marginal declines. The Sensex closed at 16719, up 70 points from its previous close, and the Nifty shut shop at 5068, up 19 points.

  • The top Nifty gainers were Reliance Infra, GAIL, Sterlite Industries and L&T while the biggest losers included Cairn India, ONGC, Maruti and Power Grid.

  • The markets closed with substantial gains this week and barring consumer durables, all sectoral indices closed positive. The Sensex was up 4.8% and Nifty gained 4.5% over the week. The CNX Midcap index was up 3.6%, BSE Smallcap gained 2.2% while the Bank Nifty closed with 8% gain.

  • Nifty may test 5500 in next 3-6 months; don't see it crossing 6200 in next 12-14 months, says investor Rakesh Jhunjhunwala on ET Now.

  • The market is likely to halt a bit now and stay in the range of 5050 and 5005,says Hemen Kapadia, technical analyst, on Zee Business. We could see a slightly negative bias with a 50-70 point correction on the Nifty, he adds.

  • Next few days we could see some consolidation in the market, says Mitesh Thacker, technical analyst, on ET Now. Buy on dips in the range of 5000-4950, he adds.

  • As long as 5000-5020 holds on, I would hold on to longs, says Ashwani Gujral, technical analyst, on ET Now. The Nifty needs to remain above 5038 for the market trend to be positive, he adds.

NIFTY 3-Month