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Dealer’s Diary
The key benchmark indices opened on a firm note as select Asian markets
turned positive after a subdued start. The morning sentiment was boosted as
most of the Asian indices opened strong and the stocks rose for the first time in
three days. A bout of volatility was witnessed as the key benchmark indices
erased early gains to slide into the negative zone; however, indices regained
momentum in early afternoon trade and bounced back into the positive zone
later, following support from European stocks. Hovering in the positive terrain in
the afternoon session, a sudden sell-off was triggered in late trade, with
benchmark indices shedding the gains. The Sensex and Nifty ended in red,
losing 0.3% and 0.4%, respectively. BSE mid-cap and small-cap indices also
ended in red, losing 0.6% and 0.5%, respectively. Among the front liners,
Bharti Airtel, Hero Honda, HDFC, HDFC Bank and Tata Power gained 0.7-3%.
Among the top losers, Jaiprakash Associates, DLF, NTPC, Tata Steel and Sterlite
lost 1.5-2%.
Markets Today
The trend deciding level for the day is 19999 / 6009 levels. If NIFTY trades
above this level during the first half-an-hour of trade then we may witness a
further rally up to 20128 – 20315 /6050 - 6112 levels. However, if NIFTY
trades below 19999 / 6009 levels for the first half-an-hour of trade then it may
correct up to 19812 -19682 / 5947 - 5906 levels.
Economic and Political News
September infra output up 2.5%
Food inflation falls sharply by 1.78% to 13.75%
17.2% increase in Direct Tax Collection: Revenue Secy
RBI may raise policy rates to rein in inflation: FICCI
Corporate News
No pre-condition for approving Cairn-Vedanta deal: ONGC
Dhanlaxmi Bank buys 15% stake in Destimoney Securities
Core Projects bags `26cr order from Gujarat Govt.
RPower places US $8.3bn order with Shanghai Electric
Source: Economic Times, Business Standard, Business Line, Financial Express, Mint
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