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Dealer’s Diary
The market edged lower in early trade as political unrest in Libya continued and
extended initial losses in morning trade. The key benchmark indices hit fresh
intraday lows in mid-morning trade but trimmed losses in early afternoon trade.
Investors dumped stocks amid geopolitical tensions arising from the Libya crisis
and on macroeconomic worries caused by a rally in crude oil prices, as the key
benchmark indices nosedived to their lowest level in nearly two weeks in a
broad-based sell-off. All sectoral indices on the BSE were in red and the market
breadth was quite weak. The Sensex and Nifty closed down by 3.0% and 3.2%,
respectively. The mid-cap and small cap indices ended lower by 2.9% and
2.8%, respectively. Among the front liners, none of the companies gained while
Tata Motors, Jaiprakash Associates, ICICI Bank, Jindal Steel and L&T lost 5–8%.
Among mid caps, Simplex Infra, AIA Engineering, DEN Network, Gujarat
Industries and Karnataka Bank gained 3–18%, while Aurobindo Pharma, State
Bank of Travancore, ARSS Infra, Jindal Southwest Holdings and Clariant
Chemicals lost 11–17%.
Markets Today
The trend deciding level for the day is 17,776/5,310 levels. If NIFTY trades
above this level during the first half-an-hour of trade then we may witness a
further rally up to 17,992–18,351/5,377–5,490 levels. However, if NIFTY
trades below 17,776/5,310 levels for the first half-an-hour of trade then it may
correct up to 17,416–17,200/5,196–5,129 levels.
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
Dealer’s Diary
The market edged lower in early trade as political unrest in Libya continued and
extended initial losses in morning trade. The key benchmark indices hit fresh
intraday lows in mid-morning trade but trimmed losses in early afternoon trade.
Investors dumped stocks amid geopolitical tensions arising from the Libya crisis
and on macroeconomic worries caused by a rally in crude oil prices, as the key
benchmark indices nosedived to their lowest level in nearly two weeks in a
broad-based sell-off. All sectoral indices on the BSE were in red and the market
breadth was quite weak. The Sensex and Nifty closed down by 3.0% and 3.2%,
respectively. The mid-cap and small cap indices ended lower by 2.9% and
2.8%, respectively. Among the front liners, none of the companies gained while
Tata Motors, Jaiprakash Associates, ICICI Bank, Jindal Steel and L&T lost 5–8%.
Among mid caps, Simplex Infra, AIA Engineering, DEN Network, Gujarat
Industries and Karnataka Bank gained 3–18%, while Aurobindo Pharma, State
Bank of Travancore, ARSS Infra, Jindal Southwest Holdings and Clariant
Chemicals lost 11–17%.
Markets Today
The trend deciding level for the day is 17,776/5,310 levels. If NIFTY trades
above this level during the first half-an-hour of trade then we may witness a
further rally up to 17,992–18,351/5,377–5,490 levels. However, if NIFTY
trades below 17,776/5,310 levels for the first half-an-hour of trade then it may
correct up to 17,416–17,200/5,196–5,129 levels.
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