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,
VEDLTOP LOSERS-ICICIBNK, BPCL, HDFC TWIN, TECHM, INDUSINDBK