NIFTY LOST ALL GAINS AND CLOSED IN RED MARK

Today nifty closed flat by climbing 160 points. The negative impact was mainly due to financials, led by icici bank, which missed the earnings estimate. The closing was despite gains in reliance, auto and it. After a good start, the market lost all its gains to the upper levels and eventually the market closed in the red mark. The sensex closed around 80 points and the nifty around 9300. Bank nifty has also closed down by nearly 402 points at 18,951 levels due to pressure in banking stocks. The emphasis was on buying auto, tech and metal. In response to the announcement of earnings in stocks, both sides may continue to see irregular swings. For the coming week, we expect the index to be range bound as moody's negative outlook for india will act as a barrier for the nifty to participate in a pullback rally.

TOP GAINERS-HEROMOTOCO, INFRATEL, MARUTI, GRASIM, VEDL
TOP LOSERS-ICICIBNK, BPCL, HDFC TWIN, TECHM, INDUSINDBK