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Market Report

Friday, 03-Aug-2012


  • The markets traded rangebound throughout the day and closed with moderate losses. Metal, auto and banking were the biggest losers in today's session and realty and FMCG, too, played their roles in pulling the indices down. IT, oil & gas and healthcare gained significantly. The Sensex closed at 17198, down 26 points from its previous close, and the Nifty shut shop at 5216, down 12 points.

  • The top Nifty gainers today were Asian Paints, Wipro, NTPC and ONGC while the biggest losers included Sterlite Industries, Jindal Steel, Tata Steel and IDFC.

  • The markets gained significantly during the week with power, capital goods and realty leading the rally. Banking, too, supported the indices well. The Sensex was up 2.16% and Nifty gained 2.3% over the week. The CNX Midcap index closed with 3.1% gain, BSE Smallcap was up 3% while the Bank Nifty closed with 1.7% gain.

  • There is strong support for the market at 5165-5170 and till Nifty does not cross 5220-5230, supply will come in at higher levels, says Simi Bhaumik, technical analyst, on Zee Business.

  • The bias of the market is rangebound currently, says Mitesh Thacker, technical analyst, on ET Now. If Nifty breaches 5200 then we could see a cut of 50-70 points, he adds.

  • Next week is likely to be positive for markets with daily momentum readings holding on, says Sarvendra Srivastav, technical analyst, on NDTV Profit. There is support for Nifty at 5170-5200 with resistance at 5250-5260, he adds.

NIFTY 3-Month