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Dealer’s Diary
The key benchmark indices opened Thursday’s session on a negative note on
the back of IT bellwether, Infosys, reporting lower-than-estimated 3QFY2011
numbers. The market continued to trade negative with the Infosys slumping. The
early afternoon session however, saw the key benchmark indices erasing almost
all the intraday losses to hit fresh highs following data indicating food inflation
showing signs of easing Soon thereafter, selling pressure pulled the indices
down and the Sensex and Nifty ended 1.8% and 1.9% lower, respectively. The
mid-cap index closed 0.8% down, while the small-cap index declined 0.7%.
Among the front-liners, Tata Motors, ONGC, DLF and Reliance Comm gained
0-2%, while Infosys, SBI, ICICI Bank, HDFC Bank and Wipro lost 3-5%. Among
the mid-caps, Glodyne Tech, Dewan Housing, City Union Bank, Manappuram
Finance and Jubilant Food gained 3-6%, while Godfrey Philips, Shree
Ashtavinayak, Jindal South and Kalpataru Power fell 4-5%.
Markets Today
The trend deciding level for the day is 19,299/5,782 levels. If NIFTY trades
above this level during the first half-an-hour of trade then we may witness a
further rally up to 19,462–19,741/5,828-5,903 levels. However, if NIFTY
trades below 19,299/5,782 levels for the first half-an-hour of trade then it may
correct up to 19,020–18,857/5,706-5,661 levels.
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