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Dealer’s Diary
The key benchmark indices tumbled for the second straight day following weak
cues from Asian indices. The market continued to move below the baseline at
the morning levels, owing to weak sentiments from the Asian region as well as
lower-than-expected quarterly earnings by some companies. After hovering
near the baseline till mid-session, selling pressure started to build up and the
benchmark indices were gradually seen dragging further in the negative terrain.
Weak cues from the European region also dampened the mood of investors in
the afternoon trade. Downward rally was witnessed across the realty, FMCG,
banking and IT sectors. The Nifty and Sensex showed considerable weakness,
losing 1.1% each. BSE mid-cap and small-cap lost 0.3% each. Among the front
liners, RCOM, M&M, Tata Steel, Hindalco and Sterlite Ind. gained 0.5-4%.
Among the top losers, NTPC, HDFC, Maruti, ICICI Bank and ITC lost 2-3%.
Markets Today
The trend deciding level for the day is 20050 / 6025 levels. If NIFTY trades
above this level during the first half-an-hour of trade then we may witness a
further rally up to 20176 – 20347 / 6063 - 6114 levels. However, if NIFTY
trades below 20050 / 6025 levels for the first half-an-hour of trade then it may
correct up to 19879 – 19753 / 5975 - 5937 levels
Economic and Political News
Diesel deregulation unreasonable now: Oil Secretary
Centre can levy service tax on financial leasing services: Supreme Court
Farm Minister to talk to state govts. on multi-brand retail FDI
Corporate News
Bharti, Aircel keen to buy Qualcomm biz
SJVN hopes to enter power trading this fiscal
SFIO may seek second extension for Sesa Goa probe
Biocon to invest US $161mn in Malaysia biotech unit
Bombay Rayon buys Indore co. for `70cr
Source: Economic Times, Business Standard, Business Line, Financial Express, Mint
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