Visit http://indiaer.blogspot.com/ for complete detailsThe key benchmark indices edged lower in choppy trading session as profit
booking emerged after the market scaled 33-month high. The indices surged in
opening trade tracking firm Asian stocks but soon slipped into red due to profit
booking. However, the indices held positive zone in mid-morning trade. The
market moved between positive and negative terrain near the flat line in
afternoon trade, but fresh selling dragged the market to the day's low in late
afternoon trade resulting in the Sensex and Nifty closing down by 0.9% each.
BSE midcap and small-cap indices performed slightly better than the key
benchmark indices, closing below by 0.3% and 0.5%, respectively. Among the
front liners, Wipro, Tata Steel, Infosys, Tata Motors and Jindal Steel gained 0–
2%, while RCOM, L&T, NTPC, M&M and Reliance Infra lost 2–3%. Among mid
caps, Rashtriya Chemicals, Chambal Fertilisers, GSFC, Money Matters and
Coromandel Intntl. gained 7–13%, while Infotech Ent., IBN18 Broadcast, IFCI,
UTV Software and CMC lost 4–8%.
Markets Today
The trend deciding level for the day is 20598 / 6206 levels. If NIFTY trades
above this level during the first half-an-hour of trade then we may witness a
further rally up to 20754 – 21010 / 6255 - 6333 levels. However, if NIFTY
trades below 20598 / 6206 levels for the first half-an-hour of trade then it may
correct up to 20342 – 20187 / 6129 - 6080 levels.
Economic and Political News
RBI intervenes to stem unabated rise in Rupee
AP okays ordinance to regulate MFIs
Farm output to grow 7.2%: CMIE
Corporate News
Reliance Infra raises `7,000cr for Mumbai Metro project
Eros signs deal with Zee for `50cr
Glaxo to step up capacity for Elephantiasis drug production
L&T Infra plans `700cr infrastructure bond issue
Source: Economic Times, Business Standard, Business Line, Financial Express, Mint
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