The market opened on a firm note on account of positive cues from Asian
indices and the momentum continued in the morning trade. The Sensex scaled
fresh intraday high in mid-morning trade as the government introduced the
Constitution Amendment Bill in the parliament to facilitate implementation of
Goods and Services Tax (GST). The market pared gains in early afternoon trade
before regaining the vigour in the afternoon trade as European markets opened
in green, with the Sensex crossing the 18,000 mark. The market scaled fresh
intraday high in mid-afternoon trade. However, volatility ruled the roost in late
trade as key benchmark indices pared gains and closed just below the 18,000
mark. The Sensex and Nifty closed with gains of 0.8% and 0.9%, respectively,
while the mid-cap and small-cap indices closing with gains of 0.8% and 0.5%,
respectively. Among the front liners, Maruti Suzuki, DLF, Bharti Airtel,
Jaiprakash Associates and HDFC gained 2–4%, while Jindal Steel, TCS, ICICI
Bank, HDFC Bank and Bajaj Auto lost 0–1%. Among mid caps, Wabco-TVS
India, Anant Raj Industries, Glodyne Tech, M&M Finance and Amtek Auto
gained 6–9%, while Shree Global, KGN Industries, Suntek Realty, Purvankara
Projects and MVL lost 4–17%.
Markets Today
The trend deciding level for the day is 17,969/5,406 levels. If NIFTY trades
above this level during the first half-an-hour of trade then we may witness a
further rally up to 18,060–18,132/5,436-5,458 levels. However, if NIFTY
trades below 17,969/5,406 levels for the first half-an-hour of trade then it may
correct up to 17,898–17,807/5,384-5354 levels
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