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Economic and Political News
�� Kapil Sibal given charge of Telecom Ministry
�� FDI in telecom at `33,957cr since 2007–08, says govt.
�� Inflation at 9-month low of 8.58% in October
Corporate News
�� YES Bank avails US $25mn term loan from Wells Fargo Bank
�� HPCL to invest `13,000cr to augment Vizag refinery capacity
�� Axis Bank to open 100 branches under the rural banking strategy
Source: Economic Times, Business Standard, Business Line, Financial Express, Mint
Dealer’s Diary
The key benchmark indices edged lower after a firm start as most Asian stocks
fell. The market remained in red through most of the morning trading time, with
brief spells of recovery in mid-morning trades. However, the market ended in
the positive zone after European stocks came off lows and as US index futures
edged higher. Intraday volatility was high. The Sensex and Nifty ended the
session with gains of 0.8% each. The mid-cap and small-cap indices showed
mixed trends. While the mid-cap index ended positive with gains of 0.2%, the
small-cap index closed low at negative 0.3%. Among the front liners, SBI, Cipla,
M&M, HDFC Bank and Wipro gained 2–4%, while Reliance Infra, DLF, NTPC,
Maruti Suzuki and RCOM lost 1–2%. Among mid caps, MVL, Wockhardt, CMC,
Syndicate Bank and HMT gained 6–13%, while Dishman Pharma, IBN18, AIA
Engineering, IVR Prime and Ispat Industries lost 5–6%.
Markets Today
The trend deciding level for the day is 20231/6073 levels. If NIFTY trades
above this level during the first half-an-hour of trade then we may witness a
further rally up to 20415–20520/6178–6234 levels. However, if NIFTY trades
below 20231/6073 levels for the first half-an-hour of trade then it may correct
up to 20126–19942/6016–5911levels.
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