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Market Report

Wednesday, 20-June-2012


  • Bounceback by the cement sector from the lows of the day helped the market close with modest gains following a subdued and rangebound session. Volumes were good and sectors that saw positive trade were autos, metals and infra. Sensex shut trade at 16896, up 36 points and Nifty at 5120, up 16 points from the previous close.

  • Top Nifty gainers today were ACC, Sterlite Industries and HCL Technologies while losers included TCS, Bharti Airtel and DLF.

  • The market has been rangebound between 5040 and 5140 for the last nine days, says Sudarshan Sukhani, technical analyst, on CNBC TV18. A call should be taken on a breakout on either side, he adds.

  • This is a crucial session for the Nifty with 200 DEMA at 5150, says Sarvendra Srivastav, technical analyst, on NDTV Profit. There is resistance at 5130-5150 with support at 5050, he adds.

  • Market is likely to be choppy and volatile with support at 5040-5030, says Mitesh Thacker, technical analyst, on ET Now. There is resistance at 5180, he adds.

  • Jan Hatzius of Goldman Sachs says on CNBC TV18: "We expect the Fed to ease monetary policy on June 20, in response to the weak economic data and increased downside risks from Europe." Michael Hanson of BofA ML says on CNBC TV18: "We expect the Fed to launch QE3 by early fall and not start hiking interest rates until mid-2015 at the earliest."

NIFTY 3-Month