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Market Report

Thursday, 26-July-2012

NSE

  • Weakness in banking took its toll on the markets today with both benchmark indices closing with significant losses. All sectoral indices closed in the red and along with banking, realty, capital goods, IT and metal, too, closed with substantial declines. The Sensex closed at 16640, down 206 points from its previous close, and the Nifty shut shop at 5043, down 67 points.

  • The top Nifty gainers today were Ambuja Cements, NTPC, Bajaj Auto and Grasim while the biggest losers included PNB, DLF, Tata Power and Tata Motors.

  • Buy Nifty Futures at 5040 with a target of 5130 and stop loss of 5010, says C.K. Narayan of Growth Avenues Asset Advisors on ET Now.

  • Weak monsoon and policy paralysis weighing on markets, says Prashastha Seth of IIFL Wealth on ET Now. He is bullish on emerging markets with stable political regimes.

  • The bias of the market is negative with support at 5000, says Ashish Chaturmotha of IIFL Wealth on Zee Business. Nifty should stay in 5000-5200 range for some time before shifting lower to 4850-4800, he adds.

NIFTY 3-Month