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Dealer’s Diary
The key benchmark indices opened on a firm note on reports that companies
across sectors have paid significantly higher tax in 4QFY2011 compared with
the year-ago period. The market extended gains in morning trade. The Sensex
came off highs later. Firmness prevailed in mid-morning trade. The market
struck a fresh intraday high in early afternoon trade and hovered near the day's
high in afternoon trade. The market pared gains in choppy mid-afternoon
trade. The indices touched intra-day high during the afternoon; however, during
the last hour, the market pared some of its gains, with the Sensex and Nifty
closing up by 1.1% each. The mid-cap and small-cap indices gained 1.4% and
1.3%, respectively. Among the front liners, only Reliance Infra, SBI, ICICI Bank,
DLF and TCS closed with gains of 2–5%, while HUL, Hindalco, Cipla, Hero
Honda and HDFC lost 0–1%. Among mid caps, JM Financial, Shree Global
Tradefin, Parsvnath Developers, Ballarpur Inds and Central Bank of India
gained 8–17%, while KGN Inds, Tecpro Systems, Jain Irrigation, Thermax and
Birla Corp. lost 2–5%.
Markets Today
The trend deciding level for the day is 18,356/5,507 levels. If NIFTY trades
above this level during the first half-an-hour of trade then we may witness a
further rally up to 18,448–18,536/5,539–5,567 levels. However, if NIFTY
trades below 18,356/5,507 levels for the first half-an-hour of trade then it may
correct up to 18,267–18,175/5,480–5,448 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 on reports that companies
across sectors have paid significantly higher tax in 4QFY2011 compared with
the year-ago period. The market extended gains in morning trade. The Sensex
came off highs later. Firmness prevailed in mid-morning trade. The market
struck a fresh intraday high in early afternoon trade and hovered near the day's
high in afternoon trade. The market pared gains in choppy mid-afternoon
trade. The indices touched intra-day high during the afternoon; however, during
the last hour, the market pared some of its gains, with the Sensex and Nifty
closing up by 1.1% each. The mid-cap and small-cap indices gained 1.4% and
1.3%, respectively. Among the front liners, only Reliance Infra, SBI, ICICI Bank,
DLF and TCS closed with gains of 2–5%, while HUL, Hindalco, Cipla, Hero
Honda and HDFC lost 0–1%. Among mid caps, JM Financial, Shree Global
Tradefin, Parsvnath Developers, Ballarpur Inds and Central Bank of India
gained 8–17%, while KGN Inds, Tecpro Systems, Jain Irrigation, Thermax and
Birla Corp. lost 2–5%.
Markets Today
The trend deciding level for the day is 18,356/5,507 levels. If NIFTY trades
above this level during the first half-an-hour of trade then we may witness a
further rally up to 18,448–18,536/5,539–5,567 levels. However, if NIFTY
trades below 18,356/5,507 levels for the first half-an-hour of trade then it may
correct up to 18,267–18,175/5,480–5,448 levels.
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