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Market Report

Thursday, 14-June-2012

NSE

  • The markets lost significantly today on account of negative global cues and high inflation numbers. Realty, banking, capital goods and power were the worst performers in today's session and auto, consumer durables and metal, too, closed with significant losses. IT and tech were the only two sectors that closed positive. The Sensex closed at 16678, down 203 points from its previous close, and the Nifty shut shop at 5055, down 67 points.

  • The top Nifty gainers today were Infosys, ACC, Cipla and Sesa Goa while the biggest losers included PNB, Tata Motors, IDFC and L&T.

  • Crucial resistance level on the Sensex is 17000 and on Nifty it is 5150, says Dharmesh Shah of ICICI Direct on Zee Business. If the market does not trade above 5145 then it would come under pressure and fall below 5090-5050, he adds.

  • The market is extremely rangebound and moving between 4980 and 5145, says Sarvendra Srivastav, independent market analyst, on NDTV Profit. The Nifty is near its 200 DME, he adds.

  • Inflation and interest rates in India are high and I do not see inflation coming down much, says Anil Manghnani of Modern Shares and Stockbrokers on NDTV Profit. He sees possibility of sharp corrections in 2012. Need to sell consumer durables on rally, he advises.

  • May WPI inflation has come in at 7.55% versus 7.23% (MoM), reports ET Now. Manufactured products inflation for May has come in at 5.02% versus 5.1%, food articles at 10.74% versus 10.5%, primary articles at 10.88% versus 9.71% while fuel group is at 11.53% versus 11.03% (MoM), reports the channel. March WPI inflation has been revised to 7.69% versus 6.89% (MoM), it says.

NIFTY 3-Month