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Dealer’s Diary
The key benchmark indices edged lower, snapping last three-day gains on
profit taking. The market opened on a firm note and held positive terrain till
mid-morning trade, as most Asian stocks rose. However, the market breadth
was marginally weak compared to strong breadth earlier in the day. The market
reversed initial gains in mid-afternoon trade, tracking weak opening for
European stocks. Selling pressure was witnessed across capital goods,
consumer durables and banking stocks. The indices recovered marginally but
remained in the negative zone till late trade. The Sensex and Nifty lost 0.2% and
0.3%, respectively. BSE mid-cap and small-cap indices gained 0.1% and 0.3%,
respectively. Among the front runners, Bharti Airtel, Hindalco Inds., Jindal Steel,
Tata Motors and Sterlite Inds. gained 1–3%, while Maruti Suzuki, Reliance Infra.,
HDFC Bank, Wipro and RIL lost 1–2%. Among mid caps, Ispat Inds., Nava
Bharat Ventures, MVL, Essar Shipping Ports and KGN Inds. gained 5–11%,
while Money Matters Fin. Services, Shree Ashtavinayak Cine Vision, Sterling
International Enterprises Ltd., Sintex Industries and Simplex Infra lost 4–5%.
Markets Today
The trend deciding level for the day is 20033 / 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 20134 – 20253 / 6019 - 6055 levels. However, if NIFTY
trades below 20033 / 5989 levels for the first half-an-hour of trade then it may
correct up to 19914 – 19813 / 5954 - 5923 levels.
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