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Dealer’s Diary
The key benchmark indices edged higher in early trade on firm Asian stocks.
A bout of volatility was witnessed in mid-morning trade after the RBI hiked
reverse repo and repo rates by 25bp each. The market breadth was strong;
however, volatility continued as the market pared gains in afternoon trade.
The indices reversed initial gains to hit fresh intraday lows in mid-afternoon
trade, as investors fret over the possibility of more interest rate hikes by the RBI
to tame inflation. Selling pressure was witnessed in FMCG stocks, following
disappointing 3Q results by HUL. The key benchmark indices closed in red, with
the Sensex and Nifty losing 1% each. The mid-cap and small-cap indices also
lost around 0.4% each. Among the front liners, NTPC, Hero Honda, Hindalco,
Tata Steel and Bharti Airtel gained 1–2%, while HUL, ICICI Bank, HDFC Bank,
M&M and Tata Motors lost 2–6%. Among mid caps, Blue Star, eClerx Services,
Anant Raj Inds., Money Matters Fin. Services and Shree Ashtavinayak Cine
Vision gained 5–8%, while BOC India, Manapurram General Fin. and Leasing,
Simplex Infra., Redington India and Kirloskar Engines fell 4–6%.
Markets Today
The trend deciding level for the day is 19087 / 5723 levels. If NIFTY trades
above this level during the first half-an-hour of trade then we may witness a
further rally up to 19224 – 19478 / 5766 - 5844 levels. However, if NIFTY
trades below 19087 / 5723 levels for the first half-an-hour of trade then it may
correct up to 18832 – 18695 / 5645 - 5602 levels.
India Equity Research Reports, IPO and Stock News Visit http://indiaer.blogspot.com/ for complete details �� ��
Dealer’s Diary
The key benchmark indices edged higher in early trade on firm Asian stocks.
A bout of volatility was witnessed in mid-morning trade after the RBI hiked
reverse repo and repo rates by 25bp each. The market breadth was strong;
however, volatility continued as the market pared gains in afternoon trade.
The indices reversed initial gains to hit fresh intraday lows in mid-afternoon
trade, as investors fret over the possibility of more interest rate hikes by the RBI
to tame inflation. Selling pressure was witnessed in FMCG stocks, following
disappointing 3Q results by HUL. The key benchmark indices closed in red, with
the Sensex and Nifty losing 1% each. The mid-cap and small-cap indices also
lost around 0.4% each. Among the front liners, NTPC, Hero Honda, Hindalco,
Tata Steel and Bharti Airtel gained 1–2%, while HUL, ICICI Bank, HDFC Bank,
M&M and Tata Motors lost 2–6%. Among mid caps, Blue Star, eClerx Services,
Anant Raj Inds., Money Matters Fin. Services and Shree Ashtavinayak Cine
Vision gained 5–8%, while BOC India, Manapurram General Fin. and Leasing,
Simplex Infra., Redington India and Kirloskar Engines fell 4–6%.
Markets Today
The trend deciding level for the day is 19087 / 5723 levels. If NIFTY trades
above this level during the first half-an-hour of trade then we may witness a
further rally up to 19224 – 19478 / 5766 - 5844 levels. However, if NIFTY
trades below 19087 / 5723 levels for the first half-an-hour of trade then it may
correct up to 18832 – 18695 / 5645 - 5602 levels.
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