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Economic and Political News
FIIs desert street on IIP nos., global scare
Cash strapped MFIs seek emergency funds of `1,000cr from banks
Cancel 2G licences, levy heavy penalties on defaulters: TRAI
Corporate News
NTPC okays `3,193cr investment in Jharkhand
Godrej Agrovet to add 9,000 hectares under palm plantation
Jaypee Ventures raises stake in JP Associates to 32.75%
Source: Economic Times, Business Standard, Business Line, Financial Express, Mint
Dealer’s Diary
In a broad-based sell off, the key benchmark indices tumbled, extending the
last two-day losses, impacted by a plunge in Chinese stocks and lower industrial
output data for September. The market opened in red in early morning trade.
After briefly recovering in green as Reliance Industries reversed initial losses, the
market once again slipped into the red. The market dragged to the day's low in
afternoon trade and finally closed the trade low, with the Sensex and Nifty
closing down by 2% each. The mid-cap and small-cap indices also closed with
losses of 2% each. Among the front liners, Hero Honda and HDFC gained 0.3%
and 0.1%, respectively, while DLF, M&M, Hindalco, SBI and Tata Steel lost 4–
5%. Among mid caps, Shriram City Union Finance, Dewan Housing, Sun
Pharma, Manappuram General Finance and S Kumar Nation gained 3–4%,
while Shree Renuka Sugars, MVL, Educomp, Jindal South and Triveni Engg. lost
8–12%.
Markets Today
The trend deciding level for the day is 20286 / 6110 levels. If NIFTY trades
above this level during the first half-an-hour of trade then we may witness a
further rally up to 20464 -20772 / 6164 - 6256 levels. However, if NIFTY
trades below 20286 / 6110 levels for the first half-an-hour of trade then it may
correct up to 19979 – 19801 / 6018 - 5965 levels.
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