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Dealer’s Diary
The key benchmark indices ended the two-day losing streak by registering
modest gains. The market opened on a weak note, in line with weak US and
Asian markets. While weakness persisted until mid-session, the market
witnessed gradual buying thereafter, which helped it go past the previous close.
Although volatile, the market sustained gains in the final session, closing in
green. The combined advance tax payment by top 100 corporate taxpayers
rose 18.7% yoy to `27,531cr in 3QFY2011, indicating better corporate
performance for the quarter. The BSE Sensex and Nifty closed the session with
gains of 0.5% each. BSE mid-cap and small-cap indices also closed the session
with modest gains of 0.3% each. Among the front liners, RCOM, Reliance Infra,
Sterlite, Hindalco Inds. and ITC gained 2–11%, while Tata Motors, BHEL,
ICICI Bank, ONGC and HDFC lost 0–3%. Among mid-caps, BF Utilities,
Jubilant Foodworks, Bajaj Hindustan, MVL and HCL Info. gained 5–20%, while
Money Matters, Shree Ashtavinayak, Simplex Infra., Ballarpur Inds. and
Jain Irrigation lost 3–5%.
Markets Today
The trend deciding level for the day is 20013/5990 levels. If NIFTY trades
above this level during the first half-an-hour of trade then we may witness a
further rally up to 20147 - 20220/6039 - 6067 levels. However, if NIFTY trades
below 20013/5990 levels for the first half-an-hour of trade then it may correct
up to 19941 - 19807/5962 - 5913 levels.
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