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Market Report

Thursday, 09-Aug-2012

NSE

  • The markets remained volatile today and closed with moderate declines. Oil & gas and banking lost significantly while FMCG, auto and metal closed with substantial gains. The Sensex closed at 17561, down 40 points from its previous close, and the Nifty shut shop at 5323, down 15 points.

  • The top Nifty gainers today were M-and-M, Sterlite Industries, HUL and Tata Power while the biggest losers included Bharti, SBI, HDFC and BPCL.

  • The market is still consolidating and a breakout above 5400 would be mean an uptrend, says Mitesh Thacker, technical analyst, on ET Now. Buy on declines, he adds.

  • Hurdles are seen for Nifty at 5400 with support at 5250-5260, says Sarvendra Srivastav, technical analyst, on NDTV Profit. He sees resistance at 5390-5400.

  • June IIP data has come in at -1.8% versus 2.4%, reports CNBC TV18. May IIP number has been revised to 2.5% versus 2.4% (prov), it adds. Mining sector growth is at 0.6% vs -1.4%, capital goods at -27.9% vs 38.7%, consumer goods at 3.5% vs 3.1% while consumer durable goods growth is at 9.1% vs 1.6% (YoY), reports CNBC TV18. Basic goods growth is at 4.1% vs 7.8%, electricity growth at 8.8% vs 8%, manufacturing growth at -3.2% vs 11.1% (YoY), reports the channel.

NIFTY 3-Month