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Dealer’s Diary
The Indian benchmark indices opened positive despite weakness in some Asian
markets after China hiked interest rates over the weekend. While the market
was able to sustain the gains until morning session, it witnessed a gradual selloff
throughout the afternoon session. By the onset of the final session, there was
a sharp decline with indices slipping in the red. Although a minor pull-back
brought the market back in green, it slipped back to close in red for the day.
The BSE Sensex and Nifty closed the session with losses of 0.2% each. BSE midcap
index fell by 0.2%, while the small-cap index closed the session with a
modest gain of 0.2%. Among the front liners, Cipla, Tata Power, Bajaj Auto,
Wipro and BHEL gained 1–2%, while RCOM, Sterlite Inds., Reliance Infra, Bharti
Airtel and Tata Steel lost 1–4%. Among mid-caps, Gammon Infra, Praj
Industries, Cholamandalam Investment, KEC International and BF Utilities
gained 8–10%, while Shriram City Union, Money Matters, Patel Engg., India
Infoline and Shree Ashtavinayak lost 5–6%.
Markets Today
The trend deciding level for the day is 20076 / 6012 levels. If NIFTY trades
above this level during the first half-an-hour of trade then we may witness a
further rally up to 20143 – 20256 / 6032 – 6066 levels. However, if NIFTY
trades below 20076 / 6012 levels for the first half-an-hour of trade then it may
correct up to 19963 – 19897 / 5978 - 5957 levels
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