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Dealer’s Diary
The market surged to hit the day's high after a weak start, as most Asian stocks
reversed initial losses. However, the market hit intraday lows in early afternoon
trade before trimming losses in afternoon trade. The markets recovered sharply
to regain positive zone in mid-afternoon trade and further extended gains in
late trade. The Sensex and Nifty closed with gains of 0.4% and 0.5%,
respectively. BSE mid-cap and small-cap indices performed better, closing with
gains of 0.4% and 0.9%, respectively. Among the front liners, HUL, HDFC Bank,
TCS, Sterlite Inds and Bharti Airtel gained 2-4%, while SBI, Maruti Suzuki,
Reliance Infra, ONGC and Tata Power lost 1-4%. Among mid caps, Himadri
Chem, Sun Pharma Adv Research, Jet Airways, TVS Motors and UB Holdings
gained 9-17%, while Patni Computers, Phoenix Mills, Vardhman Textiles, Eicher
Motors and Jindal South lost 2-3%.
Markets Today
The trend deciding level for the day is 20,893/6,285 levels. If NIFTY trades
above this level during the first half-an-hour of trade then we may witness a
further rally up to 21,023–21,114/6,327-6,353 levels. However, if NIFTY
trades below 20,893/6,285 levels for the first half-an-hour of trade then it may
correct up to 20,802–20,672/6,260-6,218 levels.
Economic and Political News
Stricter watch on FDI use soon
No tax sops for SEZ units with over 20% used goods
World Bank loan sought to widen national highways
Corporate News
ONGC blocks US $500mn payments to Cairn
Hind Copper’s `4,000cr FPO likely from December 6
IVRCL Assets plans `600cr QIP, stake sale
Source: Economic Times, Business Standard, Business Line, Financial Express, Mint
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