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Dealer’s Diary
The key benchmark indices opened on a firm note, tracking positive cues from
Asian markets as crude oil prices declined and due to easing of political
uncertainty after the DMK put on hold the resignation of its six ministers from
the government at the centre. The indices remained strong and gained further
momentum as stocks continued to rally on account of bargain hunting at lower
levels. The market breadth was strong as indices traded firm in the afternoon
session as well, supported by the positive start to the European markets and
upmove in US index futures. Finally, the market ended near the intra-day high,
with the Sensex and Nifty closing up by 1.2% and 1.1%, respectively. The midcap and small-cap indices marginally underperformed the broader market,
ending up by 1% and 0.8%, respectively. Among the front liners, Bharti Airtel,
Tata Motors, ONGC, Infosys and Jaiprakash Associates gained 2–3%, while
Hero Honda, Maruti Suzuki, ITC and Tata Power lost 0–1%. Among mid caps,
Shree Global Tradefin, Gujarat Fluo., SpiceJet, Polaris and Jindal Polyfilms
gained 6–20%, while Gujarat Ind., IL&FS Transportation, Himadri Chemicals,
Greaves Cotton and Anant Raj Industries lost 3–5%.
Markets Today
The trend deciding level for the day is 18391/5505 levels. If NIFTY trades
above this level during the first half-an-hour of trade then we may witness a
further rally up to 18515 – 18591/5546 - 5571 levels. However, if NIFTY
trades below 18391/5505 levels for the first half-an-hour of trade then it may
correct up to 18315 – 18191/5480 - 5440 levels.
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
Dealer’s Diary
The key benchmark indices opened on a firm note, tracking positive cues from
Asian markets as crude oil prices declined and due to easing of political
uncertainty after the DMK put on hold the resignation of its six ministers from
the government at the centre. The indices remained strong and gained further
momentum as stocks continued to rally on account of bargain hunting at lower
levels. The market breadth was strong as indices traded firm in the afternoon
session as well, supported by the positive start to the European markets and
upmove in US index futures. Finally, the market ended near the intra-day high,
with the Sensex and Nifty closing up by 1.2% and 1.1%, respectively. The midcap and small-cap indices marginally underperformed the broader market,
ending up by 1% and 0.8%, respectively. Among the front liners, Bharti Airtel,
Tata Motors, ONGC, Infosys and Jaiprakash Associates gained 2–3%, while
Hero Honda, Maruti Suzuki, ITC and Tata Power lost 0–1%. Among mid caps,
Shree Global Tradefin, Gujarat Fluo., SpiceJet, Polaris and Jindal Polyfilms
gained 6–20%, while Gujarat Ind., IL&FS Transportation, Himadri Chemicals,
Greaves Cotton and Anant Raj Industries lost 3–5%.
Markets Today
The trend deciding level for the day is 18391/5505 levels. If NIFTY trades
above this level during the first half-an-hour of trade then we may witness a
further rally up to 18515 – 18591/5546 - 5571 levels. However, if NIFTY
trades below 18391/5505 levels for the first half-an-hour of trade then it may
correct up to 18315 – 18191/5480 - 5440 levels.
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