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Dealer’s Diary
The key benchmark indices surged in early trade on positive global cues
coupled with data showing sustained buying by foreign funds. Though volatile
in the initial run, the market retained the positive zone and market breadth was
strong on the back of higher auto and cement sales in March 2011 and the
recent strong macroeconomic data. The market continued to rally, supported by
higher European stocks, which also boosted sentiment. This resulted in indices
to extend gains in late trade, which hit their highest level in more than 12
weeks. The key benchmark closed on a firm note, with the Sensex and Nifty
gaining 1.5% and 1.4%, respectively. The mid-cap and small-cap indices also
gained 1.7% and 2.8%, respectively. Among the front liners, M&M,
JP Associates, BHEL, HDFC Bank and TCS gained 3–5%, while RCOM, HUL,
Cipla, Sterlite and Reliance Infra. lost 0.3–2%. Among mid caps,
Patel Engineering, OnMobile Global, Fresenius Kabi Oncology Ltd., SRF Ltd.
and Future Capital gained 9–17%, while Himadri Chemicals, Rajesh Exports,
Dewan Housing, Allcargo Global and Kalpataru Power lost 2–4%.
Markets Today
The trend deciding level for the day is 19627 / 5887 levels. If NIFTY trades
above this level during the first half-an-hour of trade then we may witness a
further rally up to 19804 – 19907 / 5940 - 5972 levels. However, if NIFTY
trades below 19627 / 5887 levels for the first half-an-hour of trade then it may
correct up to 19524 – 19347 / 5855 - 5801 levels.
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
Dealer’s Diary
The key benchmark indices surged in early trade on positive global cues
coupled with data showing sustained buying by foreign funds. Though volatile
in the initial run, the market retained the positive zone and market breadth was
strong on the back of higher auto and cement sales in March 2011 and the
recent strong macroeconomic data. The market continued to rally, supported by
higher European stocks, which also boosted sentiment. This resulted in indices
to extend gains in late trade, which hit their highest level in more than 12
weeks. The key benchmark closed on a firm note, with the Sensex and Nifty
gaining 1.5% and 1.4%, respectively. The mid-cap and small-cap indices also
gained 1.7% and 2.8%, respectively. Among the front liners, M&M,
JP Associates, BHEL, HDFC Bank and TCS gained 3–5%, while RCOM, HUL,
Cipla, Sterlite and Reliance Infra. lost 0.3–2%. Among mid caps,
Patel Engineering, OnMobile Global, Fresenius Kabi Oncology Ltd., SRF Ltd.
and Future Capital gained 9–17%, while Himadri Chemicals, Rajesh Exports,
Dewan Housing, Allcargo Global and Kalpataru Power lost 2–4%.
Markets Today
The trend deciding level for the day is 19627 / 5887 levels. If NIFTY trades
above this level during the first half-an-hour of trade then we may witness a
further rally up to 19804 – 19907 / 5940 - 5972 levels. However, if NIFTY
trades below 19627 / 5887 levels for the first half-an-hour of trade then it may
correct up to 19524 – 19347 / 5855 - 5801 levels.
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