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Markets Today
The trend deciding level for the day is 19772/5920 levels. If NIFTY trades
above this level during the first half-an-hour of trade then we may witness a
further rally up to 19990–20115/5985–6021 levels. However, if NIFTY trades
below 19772/5920 levels for the first half-an-hour of trade then it may correct
up to 19647–19429/5884–5819 levels.
Dealer’s Diary
The key benchmark indices edged higher in early trade as reports of higher
advance tax payment by top Indian firms and heavy bidding by institutional
investors to the initial public offer of Punjab & Sind Bank bolstered sentiment.
The market swung between gains and losses near the base line in morning
trade as investors awaited the outcome of Central Bank's mid-quarter policy
review. Immense volatility was witnessed in early afternoon trade soon after the
Central Bank announced measures to ease liquidity in the banking system,
while keeping key policy rates unchanged after a mid-quarter policy. Bank
stocks rose on the Central Bank's liquidity-easing measures. The Sensex and
Nifty closed with gains of 1.1% and 1%, respectively. BSE mid-cap and
small-cap indices also gained 0.3% and 0.5%, respectively. Among the front
liners, Hero Honda, TCS, Infosys, Wipro and Tata Steel gained 3–4%, while
Mahindra & Mahindra, Tata Power, HUL, Maruti Suzuki and Bajaj Auto lost
1–3%. Among mid caps, Amtek Auto, Ispat Ind., MAH Holiday, GSFC and
Money Matters Financial Services gained 5–6%, while JM Financial,
Graphite India, Shree Ashtavinayak Cine Vision, Nava Bharat Ventures and
Sadbhav Engg. lost 4–5%.
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