Yesterday Market Summary

Last trading day: Monday, 9 November

 It was a good start to the week for our market. Positive global cues helped our market end a strong session today, Nifty closed above the 50 DMA (above 4888) led by good buying in banking, oil and gas, realty and metal stocks. Sensex shut shop at 16498, up 340 points and Nifty at 4898, up 102 points from the previous close. CNX Midcap index was up 2.03% and BSE Smallcap index was up 2.16%. The market breadth was positive with advances at 1020 against declines of 261 on the NSE. Top Nifty gainers included Axis Bank, SBI andICICI Bank while losers were Bharti Airtel, Reliance Communications and HUL. The market could be in a Nifty range of 4500-4950 in the near term. Nifty will see huge selling pressure/profit booking at 4925-4950 levels, he says. If Nifty trades above 4950 for a few days with good volumes then 5200 is possible.