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Markets Today
The trend deciding level for the day is 19331/5809 levels. If NIFTY trades
above this level during the first half-an-hour of trade then we may witness a
further rally up to 19525 - 19644/5864 - 5898 levels. However, if NIFTY trades
below 19331/5809 levels for the first half-an-hour of trade then it may correct
up to 19211 - 19017/5775 - 5721 levels.
Dealer’s Diary
The key benchmark indices opened on a positive note after last week’s major
sell-off. However, the mood in the market seemed cautious as the Asian
markets traded on a mixed note. The market witnessed volatility in early trade;
however, it soon regained strength as strong buying was seen in the oil and
gas, banking and technology stocks. Benchmark indices continued to inch
higher and regained the psychological 19,300 (Sensex) and 5,800 (Nifty) levels
in trade in afternoon session, tracking strong cues from U.S. and European
index futures. Finally, the market snapped the four-day losing streak to end the
day on a strong note, with the Sensex and Nifty up 1.4% each, respectively. BSE
mid-cap and small-cap indices, however, underperformed the broader market
and ended down 0.6% and 0.5%, respectively. Among the front liners, Reliance
Ind., Maruti Suzuki, Wipro, BHEL and ICICI Bank gained 2–4%, while Reliance
Infra, RCOM, Tata Steel, HDFC Bank and ACC lost 0–3%. Among mid caps,
BGR Energy, IRB Infra, Chambal Fertilizer, MVL, Man Infra gained 9–21%, while
Shree Ashtavinayak, Money Matters, Core Projects, Manappuram General
Finance and Escorts lost 5–20%.
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