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Dealer’s Diary
The key benchmark indices opened in green and extended gains in morning
trade, mirroring European stocks and US index futures. The market surged in
afternoon trade, with the Sensex scaling fresh intraday high on the back of
initial gains extended by Reliance and heavy bidding by foreign funds in the
initial public offer of Coal India, which boosted sentiments. The market
continued its buoyant performance to end the day in green. The Sensex and
Nifty closed the trade with gains of 2% each. BSE mid-cap and small-cap
indices also closed with gains of 1.4% and 1.0%, respectively. Among the front
liners, Hindalco, Bharti Airtel, HUL, ITC and Cipla gained 4–5%, while NTPC
lost 0.1%. Among mid caps, GSFC, United Phosphorus, Central Bank,
Indiabulls Financial Services and Zuari Industries gained 6–8%, while Indiabulls
Power, Sterlite Technologies, Clariant Chemicals, Money Matters Financial
Services and JM Financial lost 3–6%.
Markets Today
The trend deciding level for the day is 20142/6031 levels. If NIFTY trades
above this level during the first half-an-hour of trade then we may witness a
further rally up to 20412–20563/6184–6266 levels. However, if NIFTY trades
below 20142/6031 levels for the first half-an-hour of trade then it may correct
up to 19991–19721/5949–5796 levels.
Economic and Political News
Bombay HC says 'No' to lift stay on sand mining across state
Food inflation falls to 15.53%
Gujarat to set up 12 new industrial hubs
Corporate News
Ambience plans IPO by February 2011 to raise up to `1,293 cr
Govt. scraps Vedanta's alumina refinery expansion plan
Hindustan Motors to spend `160cr to increase stake in unit
Source: Economic Times, Business Standard, Business Line, Financial Express, Mint
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