While commenting on the market outlook, Alex Mathew, head, research centre, Geojit BNP Paribas Financial Services, stated that Nifty has major support at 4,450.

Mr. Mathew also said that Nifty can test 4,221 below the said level.

He added that Nifty has resistances at 4,550-4,745.

Talking about the stock market performance of June 02, he said that the markets belled the day on a positive note with a gap up on account of positive signals coming in from the global markets but slipped immediately as investors booked their profits after a firm rally during the last 2-3 trading sessions.

The stock markets found support at lower levels with buying interest seen across metal, midcap IT and a few of the index heavy weight stocks and lastly came to a close near to yesterday’s closing figure.

As the stock market went in search of lows shortly after opening, economic facts indicated that core infrastructure production surged by 4.3% as compared to 2.3% which backed the markets at lower levels.

“Further the Aviation minister came up saying that the government will be coming up with divestment in Air India which made the other private carrier shares like Jet airways, Kingfisher Airlines etc to move up. Copper prices were moving up like anything for sometime now and so Sterlite was leading the metal group in front with Tata Steel following suit. Auto sector stocks like M&M, Hero Honda and Tata Motors were moving up on better sales numbers. The volatility was seen in the markets in the afternoon session as the European markets and US index futures were trading in red. However the markets finally came to a close with Nifty down 0.1% and Sensex up 0.23%,” he added.

On the sectoral front, the Consumer Durable gained 2.63%, Metal surged 2.48%, Auto increased 1.37%, Capital Goods soared 0.31% and IT zoomed 0.17%.

The losers list included Bankex, which declined 0.31%, Oil fell 0.26% and Technology remained down by 0.08%.

On Nifty the major gainers comprised TISCO, HCL Tech, HDFC, SAIL and Tata Motors while those on the losers’ side were ACC, Ranbaxy, Reliance Infra, Tata Power and Siemens.