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Dealer’s Diary
The key benchmark indices edged lower following weak Asian stocks. A bout of
volatility was witnessed as indices trimmed losses in early morning trade and
extended losses throughout the morning session. Firm start for European stocks
coupled with strong results from index heavyweights, RIL and BHEL, helped the
market recover losses. However, volatility was at the forefront and markets once
again tumbled to fresh intraday low in mid-afternoon trade. Wipro slumped
more than 4% after the company surprised markets with the resignations of the
joint CEOs of its IT business at the time of announcing 3Q results. ONGC
slumped more than 2% after detecting oil leak off the Mumbai coast. The key
benchmark indices closed with losses in a choppy trade, with the Sensex and
Nifty each closing down by 0.2% and 0.3%, respectively. The mid-cap index
closed 0.2% up, while the small-cap index closed 0.5% up. Among the front
liners, Reliance Infra, SBI, RCOM, BHEL and RIL gained 2–3%, while Wipro,
ONGC, ITC, DLF and Sterlite lost 2–5%. Among mid caps, Motilal Oswal,
Sterlite International, India Infoline, Money Matters Financial Services and
Cholamandalam Investment gained 5–11%, while Sanwaria Agro., Financial
Tech., Persistent Systems, Kirloskar Brothers and Britannia Inds. fell 5–6%.
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Markets Today
The trend deciding level for the day is 19002 / 5696 levels. If NIFTY trades
above this level during the first half-an-hour of trade then we may witness a
further rally up to 19071 – 19135 / 5718 - 5739 levels. However, if NIFTY
trades below 19002 / 5696 levels for the first half-an-hour of trade then it may
correct up to 18938 – 18869 / 5675 - 5653 levels.
Dealer’s Diary
The key benchmark indices edged lower following weak Asian stocks. A bout of
volatility was witnessed as indices trimmed losses in early morning trade and
extended losses throughout the morning session. Firm start for European stocks
coupled with strong results from index heavyweights, RIL and BHEL, helped the
market recover losses. However, volatility was at the forefront and markets once
again tumbled to fresh intraday low in mid-afternoon trade. Wipro slumped
more than 4% after the company surprised markets with the resignations of the
joint CEOs of its IT business at the time of announcing 3Q results. ONGC
slumped more than 2% after detecting oil leak off the Mumbai coast. The key
benchmark indices closed with losses in a choppy trade, with the Sensex and
Nifty each closing down by 0.2% and 0.3%, respectively. The mid-cap index
closed 0.2% up, while the small-cap index closed 0.5% up. Among the front
liners, Reliance Infra, SBI, RCOM, BHEL and RIL gained 2–3%, while Wipro,
ONGC, ITC, DLF and Sterlite lost 2–5%. Among mid caps, Motilal Oswal,
Sterlite International, India Infoline, Money Matters Financial Services and
Cholamandalam Investment gained 5–11%, while Sanwaria Agro., Financial
Tech., Persistent Systems, Kirloskar Brothers and Britannia Inds. fell 5–6%.
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