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Market Report

Tuesday, 10-July-2012

NSE

  • Taking cues from European markets, both benchmark indices gained significantly today. All sectoral indices closed positive with capital goods, FMCG, banking and auto being the biggest gainers. Metal, realty and power, too, closed with substantial gains. The Sensex closed at 17618, up 226 points from its previous close, and the Nifty shut shop at 5345, up 70 points.

  • The top Nifty gainers today were Axis Bank, JP Associates, Reliance Infra and PNB while the biggest losers included ACC and Wipro.

  • The market is likely to trade rangebound with upside capped and strong support for Nifty at 5250-5200, says Devang Shah of Sharekhan on Zee Business.

  • RBI is unlikely to cut interest rates in next Credit Policy, says Sameer Arora of Helios Capital on Zee Business.

  • Markets to stay within the range of 5200-5400 if rupee volatility continues, says Deven Choksey of KR Choksey Securities on ET Now.

NIFTY 3-Month