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Dealer’s Diary
The key benchmark indices opened on a flat note and traded in a narrow range
ahead of the RBI’s second quarterly monetary policy review. The market gyrated
in a narrow range, trading near its previous close. However, a strong buying
rally took the market to intraday highs in the afternoon session, but a sharp selloff
took indices to day’s lows in a short span of time. The benchmark indices
once again recovered in the final session to trade well in green, before giving
up gains to end the session flat. The Sensex and Nifty ended the session flat with
a loss of 0.1% and gain of 0.0%, respectively. BSE mid-cap and small-cap
indices registered gains of 0.5% and 0.1%, respectively. Among the front liners,
ACC, Wipro, L&T, Tata Steel and ITC gained 1-4%, while DLF, Cipla, RIL, Bharti
Airtel, Tata Motors and M&M lost 1-3%. Among mid caps, Wockhardt, Rajesh
Exports, GE Shipping, RCF and AIA Engg gained 7-17%, while IBREAL,
Ing Vysya Bank, IBN18 Broad., Phoenix Mills and Indiabulls Fin. lost 3-5%.
Markets Today
The trend deciding level for the day is 20349 / 6117 levels. If NIFTY trades
above this level during the first half-an-hour of trade then we may witness a
further rally up to 20415 – 20485 / 6140 - 6161 levels. However, if NIFTY
trades below 20349 / 6117 levels for the first half-an-hour of trade then it may
correct up to 20279 – 20212 / 6096 - 6073 levels.
Economic and Political News
Power ministry favours gas allocation from RIL to NTPC
RBI hikes rates by 25bp; CRR unchanged
Sugar exports may begin next month
Corporate News
SpiceJet to spend US $450mn for 15 Bombardier aircrafts
ICICI, HDFC plan to sell 50% stake in Prize Petroleum
Lupin gets US health regulator nod for anti-allergic tablets
Reliance BIG Entertainment inks deal with BBC Earth for producing 3 films
Source: Economic Times, Business Standard, Business Line, Financial Express, Mint
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