Dealer’s Diary
The markets surged in early trades tracking higher Asian stocks. However,
markets pared gains towards mid morning and were range-bound in early
afternoon trades following the European stocks coming off the initial highs.
Towards close with the European stocks regaining some lost ground, the Indian
bourses recovered to a certain extent. The Sensex closed with gains of 0.4%,
while the Nifty ended 0.5% higher. The BSE mid- and small-cap indices
however, outperformed the key benchmark indices closing with gains of 0.8%
and 1.3%, respectively. Among the front-liners, Tata Motors, Sterlite Industries,
Reliance Communication, Reliance Infra and Tata Steel moved up 2-4%, while
Bharti Airtel, Hindustan Unilever, HDFC Bank, NTPC and ACC slipped 0-2%.
Among the mid caps, CMC, Chambal Fertilisers, RCF, REI Agro and Nirma
added 7-18%, while Indiabulls Fin., Apollo Hospitals, Praj Industries, Binani
Cement and Radico Khaitan lost 3-4%.
Markets Today
The trend deciding level for the day is 20,350/6,143 levels. If NIFTY trades
above this level during the first half-an-hour of trade then we may witness a
further rally up to 20,451-20,561/6,180–6,225 levels. However, if NIFTY
trades below 20,350/6,143 levels for the first half-an-hour of trade then it may
correct up to 20,240–20,139/6,099–6,061 levels.
Economic and Political News
SEZ contiguity norms likely to be relaxed
Power finance companies plan to team up for banking foray
New Mines Act may fuel coal prices
Corporate News
HCC bags Rs51.4cr order from Hindalco
Suzlon to raise up to Rs5,000cr
Cairn India raises Rs2,250cr by selling bonds
Bridgestone to invest Rs2,900cr in India
Source: Economic Times, Business Standard, Business Line, Financial Express, Mint
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