While commenting on the market outlook for May 25, 2009, Alex Mathew, head, research centre, Geojit BNP Paribas Financial Services stated that Nifty has a major support at 4,150 and 3,886 that is still unbroken while the resistance is there at 4,375 and 4,450 levels.

On the market's performance on Friday (May 22), he said, "The markets had opened on a flat note on the back of subdued cues coming in from the global markets and moved up soon but could not sustain at those levels and slipped into red in the mid morning session but the formation of the new government and the strong financial reforms expected from the government weighed more and the markets were pulled up from the day's low with strong buying emerging in ICICI, SBI, Reliance and L&T."

He further said that the stock markets remained volatile during the noon session but stayed strong with an eye on the first 100 day reforms of the administration that will be disclosed in the coming days.

Infrastructure stocks remained strong. Hope of monsoon made the fertilizer stocks to stay on the investor's radar.

He added that further support came in from the US index futures and European markets that were trading positively and Indian stock markets lastly came to a close for the day and week after making a gain of 1.1% and Nifty in contrast surged 0.66%.

Among the sectorial front, the top gainers list included Capital Goods that gained 2.9%, Bankex surged 1.8%, Healthcare increased 1.77% and Oil was up by 1.32%.

The losers list comprised Metal, which rejected 0.18%.

On Nifty the major gainers were Reliance Capital up 5.3%, L&T up 5.04%, ICICI up 4.4%, Suzlon up 3.92% and IDEA up 3.63% while those on the losers' side were Gail down
5.43%, Sterlite down 4.57%, M&M down 3.73%, Tata Motors down 3.27% and ONGC up 2.72%.