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Dealer’s Diary
The key benchmark indices surged in early trade on reports of an increase in
combined advance tax payment by top 100 firms and on firm Asian stocks. The
market extended gains in mid-morning trade and strong buying was witnesses
in banking and metal stocks. The market breadth remained strong and
continued its upward march in the morning session and retreated in early
afternoon, trimming previous gains. However, the indices held the positive zone
throughout the afternoon session and finally settled in green, with the Sensex
achieving a five-week closing high. The Sensex and Nifty closed with gains of
0.9% each. BSE mid-cap and small-cap also gained, up 0.8% and 1%,
respectively. Among the front liners, Sterlite Inds. Hindalco, ICICI Bank, DLF and
HDFC Bank gained 2–5%, while Hero Honda, Bharti Airtel, Infosys, NTPC and
TCS lost 0.6–0.8%. Among mid caps, Ackzo Nobel India, City Union Bank,
India Infoline, Gujrat Pipava and Hotel Leela Ventures gained 6–9%, while
Ispat, Unichem Lab., Shree Ashtavinayak Cine Vision, Money Matters Fin.
Services and Opto Circuits (India) Ltd. lost 4–15%.
Markets Today
The trend deciding level for the day is 20026 / 5989 levels. If NIFTY trades
above this level during the first half-an-hour of trade then we may witness a
further rally up to 20126 – 20191 / 6019 - 6037 levels. However, if NIFTY
trades below 20026 / 5989 levels for the first half-an-hour of trade then it may
correct up to 19960 – 19861 / 5971 - 5942 levels.
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