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Dealer’s Diary
The market declined to a 5½-week low in early trade, extending a seven-day
decline, on lackluster global cues. The market came off lows in morning trade
and moved between the positive and negative zone in mid-morning trade with
undertone remaining weak weighed by a steeper-than-expected rate hike by the
RBI yesterday and a sustained selling drive by FIIs. The market recovered again
from intraday low in early afternoon trade, but market breadth remained weak.
Weak global stocks also dampened sentiment. The market staged a sharp
pullback to strike the day's high in the positive zone in mid-afternoon trade.
An intraday recovery in late trade was derailed on fresh selling and market
weakened further in late trade, with the Sensex and Nifty ending down by 0.4%
and 0.5%, respectively. The mid-cap and small-cap indices ended lower by
0.5% each. Among the front liners, ONGC, HDFC Bank, SBI, HUL and
Jaiprakash Associates gained 1–5%, while Bajaj Auto, Hero Honda, HDFC,
Reliance Communication and Tata Power lost 2–5%. Among mid caps, Kwality
Dairy, Persistent Systems, KSK Energy, Manappuram Finance and Redington
India gained 4–6%, while Lakshmi Machine Works, Shree Global Tradefin,
KGN Industries, Pfizer and Jubilant Lifesciences lost 5–6%.
Markets Today
The trend deciding level for the day is 18,471/5,540 levels. If NIFTY trades
above this level during the first half-an-hour of trade then we may witness a
further rally up to 18,603–18,736/ 5,576–5,615 levels. However, if NIFTY
trades below 18,471/5,540 levels for the first half-an-hour of trade then it may
correct up to 18,338–18,206/5,501–5,464 levels.
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
Dealer’s Diary
The market declined to a 5½-week low in early trade, extending a seven-day
decline, on lackluster global cues. The market came off lows in morning trade
and moved between the positive and negative zone in mid-morning trade with
undertone remaining weak weighed by a steeper-than-expected rate hike by the
RBI yesterday and a sustained selling drive by FIIs. The market recovered again
from intraday low in early afternoon trade, but market breadth remained weak.
Weak global stocks also dampened sentiment. The market staged a sharp
pullback to strike the day's high in the positive zone in mid-afternoon trade.
An intraday recovery in late trade was derailed on fresh selling and market
weakened further in late trade, with the Sensex and Nifty ending down by 0.4%
and 0.5%, respectively. The mid-cap and small-cap indices ended lower by
0.5% each. Among the front liners, ONGC, HDFC Bank, SBI, HUL and
Jaiprakash Associates gained 1–5%, while Bajaj Auto, Hero Honda, HDFC,
Reliance Communication and Tata Power lost 2–5%. Among mid caps, Kwality
Dairy, Persistent Systems, KSK Energy, Manappuram Finance and Redington
India gained 4–6%, while Lakshmi Machine Works, Shree Global Tradefin,
KGN Industries, Pfizer and Jubilant Lifesciences lost 5–6%.
Markets Today
The trend deciding level for the day is 18,471/5,540 levels. If NIFTY trades
above this level during the first half-an-hour of trade then we may witness a
further rally up to 18,603–18,736/ 5,576–5,615 levels. However, if NIFTY
trades below 18,471/5,540 levels for the first half-an-hour of trade then it may
correct up to 18,338–18,206/5,501–5,464 levels.
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