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Dealer’s Diary
The key benchmark indices started the week on a subdued note as investors
locked in profits after the market scaled record closing highs during Mahurat
Trading. Weak European stocks and lower US index futures also weighed on
investor sentiment. The indices reversed initial gains in early trade. Further, the
market remained weak in early afternoon trade. However, indices recovered
sharply after hitting fresh intraday lows in afternoon trade. Finally, after moving
in a narrow range in mid-afternoon trade, it slumped to hit fresh intraday lows
in late trade, with the Sensex and Nifty closing down by 0.7% and 0.6%,
respectively. BSE mid-cap and small-cap indices performed much better as
mid-cap index closed down by 0.1% and small-cap was up by 0.1%. Among the
front liners, JP Asso., Sterlite Inds., ACC, Tata Motors and Tata Steel gained
1–3%, while HDFC Bank, ONGC, SBI, Infosys and M&M lost 1–2%. Among mid
caps, Jubiliant Foodworks, Wockhardt, Balrampur Chini, Bajaj Hindusthan and
RCF gained 6–13%, while Allcargo Global, KGN Inds., HT Media,
Rajesh Exports and Shriram City Union Fin. lost 3–4%.
Markets Today
The trend deciding level for the day is 20917/6291 levels. If NIFTY trades
above this level during the first half-an-hour of trade then we may witness a
further rally up to 21011–21170/6318-6362 levels. However, if NIFTY trades
below 20917/6291 levels for the first half-an-hour of trade then it may correct
up to 20758–20663/6247-6221 levels.
Economic and Political News
Government disburses 24% of agri credit target in 1QFY2011
October power output rises 8.4% yoy
Repo window sees record borrowings
Corporate News
IOC raises petrol prices by `0.32/litre
3i India, partners invest `1,200cr in GVK Energy
Titan set to add 100 stores in 3 years
Reliance Power gets SC notice on diversion of Sasan coal
Source: Economic Times, Business Standard, Business Line, Financial Express, Mint
Events for
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