Saturday, February 11, 2012
Share Trading Tips for Monday | Nifty Futures Technical Overview for Monday
The markets performed well during the week and the Nifty outperformed the Sensex. Metal and banking led the rally and IT and auto, too, supported the indices well. The Sensex was up 1% while the Nifty gained 3% during the week. The CNX Midcap index was up 3%, BSE Smallcapgained 3% and the Bank Nifty, too, closed with 3% gain over the week. The BSE Auto was up 2%, BSE OilGas gained 1% while the BSE Power also closed with 1% gain. TheBSE IT was up 2.5% and the BSE Metal gained 4% over the week. The top Nifty gainers during the week were Cairn India, Jindal Steel, SAIL and Bajaj Auto while the biggest losers included Bharti Airtel, HUL, IDFC and Ranbaxy.
European markets too opened in red tracking the nervous sentiments. Short covering near the last hour of trading session enabled Nifty to recover some of the lost ground and inch up to close above dayâ€™s low with loss of 0.7%. Realty stock witnessed selling pressure after recent uptrend. Capital goods felt the brunt of the sellers as lower IIP numbers negated the sentiments towards these stocks. Cement counters too felt the heat. At the close, the benchmark 30-share index, BSE Sensex lost 82.06 points or 0.46% at 17,748.69 with 24 components posting drop. Meanwhile, the broad based NSE Nifty went down by 30.75 points or 0.57% at 5,381.60 with 41 components posting drop.
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