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Markets Today
The trend deciding level for the day is 19,391/5,812 levels. If NIFTY trades
above this level during the first half-an-hour of trade then we may witness a
further rally up to 19,622–20,002/5,882-5,997 levels. However, if NIFTY
trades below 19,391/5,812 levels for the first half-an-hour of trade then it may
correct up to 19,012–18,781/5,697-5,627 levels.
Dealer’s Diary
The key benchmark indices tumbled in a broad-based sell off, as data showing
heavy selling by foreign funds yesterday dampened sentiments. The market
breadth was extremely weak. Intraday volatility was high. The market slipped
into the red after a firm start. In the morning trade, the indices recovered
sharply to turn positive for a brief period. However, the indices extended losses
to hit fresh intraday low in early afternoon trade. Immense volatility was
witnessed in mid-afternoon trade as the key benchmark indices lost ground,
soon after staging an intraday recovery. During late afternoon trade, the indices
extended losses with the Sensex and Nifty closing down by 2.3% each.
BSE mid-cap and small-cap indices fell down by 4.5% and 5.9%, respectively.
Among the front liners, only Wipro, Infosys and ITC managed to close in the
green with gains of 0–1% each, while Reliance Infra, Reliance Communication,
Hindalco, Cipla and Tata Motors lost 5–7%. Among mid caps, Amara Raja,
Kirloskar Brothers, IRB Infra, Zydus Wellness and Standard Chartered gained
1–4%, while Glodyne Tech, Sunteck Realty, S Kumar Nation, Amtek Auto and
Hindustan Oil lost 13–20%.
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