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Dealer’s Diary
The key benchmark indices started the festive week on a strong note on the
back of firm global stocks. Moreover, data reflecting surge in manufacturing
activity in October 2010 and robust 2QFY2011results so far boosted
sentiments. Trading remained suspended on the BSE for about two-and-a-half
hours between 12:00 IST and 14:30 IST due to a technical snag affecting
volumes. Trading continued on NSE as usual during that period. Markets
witnessed a very stable session as early gains were sustained throughout the
session without any major volatility. The Sensex and Nifty ended the session with
gains of 1.6% and 1.7%, respectively. BSE mid-cap and small-cap indices too
posted gains of 1.7% and 1.2%, respectively. Among the front liners, ICICI
Bank, M&M, JP Associates, HDFC and DLF gained 3-6%, while Maruti, Hero
Honda, NTPC and RIL lost 0-3%. Among mid caps, CMC, Shree Ashtavinayak,
ING Vysya, Indusind Bank and Uco Bank gained 7-13%, while
Radico Khaitan, Nava Bharat Ventures, Mahindra Holidays, Bajaj Corp. and
Jagran Prakashan lost 3-4%.
Markets Today
The trend deciding level for the day is 20411 / 6112 levels. If NIFTY trades
above this level during the first half-an-hour of trade then we may witness a
further rally up to 20554 – 20753 / 6138 - 6159 levels. However, if NIFTY
trades below 20411 / 6112 levels for the first half-an-hour of trade then it may
correct up to 20212 – 20068 / 6091 - 6064 levels.
Economic and Political News
No diesel dual pricing, new subsidy mechanism in works: Deora
High inflation affecting export competitiveness: RBI
RBI hints at rate hike; says taming inflation priority
SEZ exports up 56% in April-September
Corporate News
Shoppers Stop to open 4-5 Hypercity stores in FY2012
Coal India H1 production at 185.7mt, slips 9% from the target
Tulip Telecom bags Rs38cr orders from Punjab
JSW Energy to set up 660MW power plant
Source: Economic Times, Business Standard, Business Line, Financial Express, Mint
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