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Economic and Political News
Government mops up `17,000cr through divestment this fiscal
Hydro projects to get faster environmental clearances
Tax collections to surpass target this year
Corporate News
Essar Oil lines up `1,700cr for Vadinar refinery expansion
JP Associates looks to raise US $500mn
Auto sales in top gear, up 46% in October 2010
Source: Economic Times, Business Standard, Business Line, Financial Express, Mint
Dealer’s Diary
The key benchmark indices edged lower in a choppy trading session, with
indices closing near the day's lows as weak European stocks weighed on
investor sentiment. The indices moved in a narrow band near the flat line. Most
Asian stocks rose and US index futures edged higher. The market edged lower
in early trade and hit fresh intraday highs after moving between the positive and
negative terrain in mid-morning trade. In the afternoon trade, indices once
again slipped into red after hitting fresh intraday highs. The market cut some
losses in mid-afternoon trade. Finally the market weakened to hit fresh intraday
lows at the fag end of the trade, with the Sensex and Nifty closing down by
0.3% and 0.4%, respectively. Among the front liners, M&M, Tata Motors,
Infosys, Wipro and ONGC gained 1-3%, while Cipla, SBI, Bharti Airtel, BHEL
and Hindalco lost 1-2%. Among mid caps, BF Utilities, Great Eastern Shipping,
Bata India, Glodyne Tech and Bombay Dyeing gained 5-7%, while Chambal
Fertilisers, United Breweries, Bajaj Corp, United Breweries Holdings and Birla
Corp lost 3-4%.
Markets Today
The trend deciding level for the day is 20899/6284 levels. If NIFTY trades
above this level during the first half-an-hour of trade then we may witness a
further rally up to 20948-21020/6299-6323 levels. However, if NIFTY trades
below 20899/6284 levels for the first half-an-hour of trade then it may correct
up to 20827–20778/6261-6246 levels.
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