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Market Report

Tuesday, 26-June-2012

NSE

  • The markets closed with moderate gains today with oil & gas, power, banking and auto being the biggest gainers. Realty and healthcare, too, made substantial gains while consumer durables, FMCG and IT closed negative. The Sensex closed at 16907, up 24 points from its previous close, and the Nifty shut shop at 5121, up 6 points.

  • The top Nifty gainers today were GAIL, Grasim, Tata Power and Power Grid while the biggest losers included SAIL, HUL, Sesa Goa and Sterlite Industries.

  • If 5100 breaks then the next support is at 5000 and till this holds, trade will be rangebound, says AK Prabhakar of Anand Rathi Securities on Zee Business. This will be a stock-specific market instead of a Nifty-specific one, he adds.

  • The market is likely to trade volatile, says Dharmesh Shah of ICICI Direct on Zee Business. If 5090 holds then go long with target of 5150-5160 but below 5090, Nifty could go to 5030 which could also provide good buying opportunity, he adds.

  • The strategy should be to either avoid trade or go short, says Sudarshan Sukhani, technical analyst, on CNBC TV18. Nifty could drift down to 5000-4950, he adds.

  • If 5100 is taken out then the fall would be limited to 5050-5000, says Sandeep Wagle of Aptart India on ET Now. Expiry is likely to be in the range of 5120-5050, he adds.

NIFTY 3-Month