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Dealer’s Diary
The key benchmark indices fell for the second straight day, tumbling to
seven-month lows. The market breadth was extremely weak. The key
benchmark indices drifted lower in early trade, tracking lower Asian stocks and
hit seven-month lows in early trade. The market staged a strong rebound from
the lower level later and swung between gains and losses. The market dropped
in choppy mid-afternoon trade to hit fresh seven-month lows. Immense volatility
was witnessed in late trade as the key benchmark indices recovered after a
steep slide. The Sensex closed down by 1.0%, while the Nifty closed lower by
1.1%. The mid-cap and small-cap indices underperformed the benchmark
indices with losses of 3.6% and 4.3%, respectively. Among the front liners,
M&M, HDFC, DLF, Infosys and HDFC Bank gained 1–4%, while Reliance Infra,
RCOM, Jaiprakash Associates, Hindalco Industries and Hero Honda lost
5–19%. Among mid caps, DEN Networks, Nava Bharat Ventures, ING Vysya,
Max India and Sanwaria Agro gained 2–11%, while Parsvnath Developers,
Prakash Industries, Man Infra, Jai Corp. and Aban Offshore lost 14–20%.
Markets Today
The trend deciding level for the day is 17,655/5,273 levels. If NIFTY trades
above this level during the first half-an-hour of trade then we may witness a
further rally up to 17,802–18,011/5,320-5,387 levels. However, if NIFTY
trades below 17,655/5,273 levels for the first half-an-hour of trade then it may
correct up to 17,446–17,299/5,206-5,159 levels.
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
Dealer’s Diary
The key benchmark indices fell for the second straight day, tumbling to
seven-month lows. The market breadth was extremely weak. The key
benchmark indices drifted lower in early trade, tracking lower Asian stocks and
hit seven-month lows in early trade. The market staged a strong rebound from
the lower level later and swung between gains and losses. The market dropped
in choppy mid-afternoon trade to hit fresh seven-month lows. Immense volatility
was witnessed in late trade as the key benchmark indices recovered after a
steep slide. The Sensex closed down by 1.0%, while the Nifty closed lower by
1.1%. The mid-cap and small-cap indices underperformed the benchmark
indices with losses of 3.6% and 4.3%, respectively. Among the front liners,
M&M, HDFC, DLF, Infosys and HDFC Bank gained 1–4%, while Reliance Infra,
RCOM, Jaiprakash Associates, Hindalco Industries and Hero Honda lost
5–19%. Among mid caps, DEN Networks, Nava Bharat Ventures, ING Vysya,
Max India and Sanwaria Agro gained 2–11%, while Parsvnath Developers,
Prakash Industries, Man Infra, Jai Corp. and Aban Offshore lost 14–20%.
Markets Today
The trend deciding level for the day is 17,655/5,273 levels. If NIFTY trades
above this level during the first half-an-hour of trade then we may witness a
further rally up to 17,802–18,011/5,320-5,387 levels. However, if NIFTY
trades below 17,655/5,273 levels for the first half-an-hour of trade then it may
correct up to 17,446–17,299/5,206-5,159 levels.
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