Weekly Market Analysis 14 May – 18 May 2012
The markets remained inconsistent this week and overall it was negative trend that had upper hand. Both benchmark indices closed in the red and barring healthcare, all sectoral indices, too, closed negative. The Sensex was down 1% and Nifty lost 0.8% over the week. The CNX Midcap index was down 1.7% while the Bank Nifty closed with 1% decline. The BSE Auto was down 5.8%, BSE Power lost 2.2% while BSE Healthcare closed with 0.5% gain during the week. The BSE Capital Goods lost 1% and BSE OilGas, too, closed with 1% decline over the week. The top Nifty gainers during the week were Sesa Goa, Sterlite Industries and SBI while the biggest losers included Tata Motors and BHEL.
Stock Market Today
The markets gained significantly in the last one hour after SBI reported robust performance in Q4. Along with banking, FMCG, oil & gas and metal, too, closed with significant gains. Auto, capital goods and realty closed with substantial declines.
Stock Market & Nifty outlook for 17 May 2012
Stock Market Today
The markets lost substantially today with all sectoral indices closing deeply in the red. Metal, auto, consumer durables and capital goods were the worst performers in today’s session and IT, power and banking, too, took a severe beating. The Sensex today closed at 16030, down 298 points from its previous close, and the Nifty closed at 4858, down 84 points. Sensex touched the lowest level after 4 months. In the currency market, the rupee hit a new low of 54.46 to the dollar, raising fears of more foreign investors cutting exposure to Indian shares.
Nifty Outlook for 17 May 2012
The top Nifty gainers were BPCL, Power Grid, Cairn India and Bajaj Auto while the biggest losers included Tata Motors, Tata Steel, SAIL and Reliance Infra.Today Nifty traded in negative nodes. Tomorrow nifty is expected to trade in negative node.It is advised traders to maintain complete position on the short side.
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