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The key benchmark indices saw immense volatility as bargain hunting emerged
after a two-day steep slide. The pre-open session that began on the bourses on
October 18, 2010, saw a wide difference in Sensex and Nifty values. The
market breadth was weak, compared to a positive breadth in the opening
trade. However, smart recovery in European stocks and US index futures aided
an intraday rebound on the domestic bourses. The Sensex and Nifty closed the
trade flat in green, gaining 0.2% each. BSE mid-cap and small-cap indices,
however, closed down by 0.5% and 0.2%, respectively. Among the front liners,
TCS, NTPC, Tata Steel, ONGC and L&T gained 1–3%, while ACC, Bharti Airtel,
JP Associates, Tata Power and Cipla lost 2–3%. Among mid caps, Petronet
LNG, Shree Ashtavinayak Cine Vision, Indiabulls Real Estate, Nagarjuna
Construction and Jindal Saw gained 3–8%, while Chambal Fertilizers, Gujarat
State Fertilizers, Unichem Labs, Rashtriya Chemicals & Fertilizers and
Manappuram General Finance & Leasing lost 4–8%.
Markets Today
The trend deciding level for the day is 20090 / 6083 levels. If NIFTY trades
above this level during the first half-an-hour of trade then we may witness a
further rally up to 20309 – 20448 / 6181 - 6285 levels. However, if NIFTY
trades below 20090 / 6083 levels for the first half-an-hour of trade then it may
correct up to 19950 – 19731 / 5978 - 5880 levels.
Economic and Political News
Biocon in US $200mn pact with Pfizer
Emami’s board approves `5,000cr acquisitions set to raise up to `2,000cr
RIL's 4 trans-country gas lines with an investment of `20,000cr are well behind schedule
Corporate News
Ministry's Posco panel fails to reach consensus
K'taka begins acquiring land for ArcelorMittal steel project
UP to take call on commercial viability of international airport in Kushinagar
Govt comfortable with rupee at 43-45 a dollar
Source: Economic Times, Business Standard, Business Line, Financial Express, Mint
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