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Markets Today
The trend deciding level for the day is 20,474/6,122 levels. If NIFTY trades
above this level during the first half-an-hour of trade then we may witness a
further rally up to 20,588–20,666/6,160-6,185 levels. However, if NIFTY
trades below 20,474/6,122 levels for the first half-an-hour of trade then it may
correct up to 20,395–20,281/6,097-6,059 levels.
Dealer’s Diary
The key benchmark indices posted modest gains on the last day of the year as
auto and bank stocks rose. The market edged higher in early trade, tracking
higher Asian stocks. The key benchmark indices extended gains in morning
trade. However, the market pared gains in mid-morning trade but regained
strength in early afternoon trade. Banking, automobile and realty stocks helped
the market regain strength amid a bout of volatility in mid-afternoon trade. The
market breadth, indicating the overall health of the market, was strong. The
Sensex and Nifty closed with gains of 0.6% and 0.5%, respectively. Mid and
small-cap indices outperformed the Sensex, closing up by 1.1% and 1.2%,
respectively. Among the front liners, RCOM, Bajaj Auto, Reliance Infra,
JP Associates and SBI gained 2–5%, while Sterlite Inds., Jindal Steel, NTPC,
BHEL and Hero Honda lost around 0–1%. Among mid caps, Dewan Housing,
KEC International, United Breweries, Parsvnath Developers and Gammon Infra
gained 6–9%, while Core Projects, Network18 Media, Shree Ashtavinayak Cine
Vision, Apollo Hospital and Rajesh Exports lost 3–12%.
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