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Dealer’s Diary
The key benchmark indices tumbled to their eight-week lows, weighed by
dismal earnings from banking giant State Bank of India (SBI). Investors are
worried that high interest rates may hit consumption demand and curtail
corporate profitability. To begin with, the market opened in the green but
slipped into the negative terrain in mid-morning trade. The market breadth,
indicating the health of the market, was weak. The intraday recovery proved
short-lived as the market weakened again during mid afternoon trade. The key
benchmark indices cut losses as a bout of volatility was seen in late trade. The
Sensex and Nifty closed down by 1.1% each. The mid-cap and small-cap
indices registered loss of 0.7% and 0.6%, respectively. Among the front liners,
Jindal Steel, HUL, TCS, ITC and DLF gained 0–2%, while SBI, ONGC, Hero
Honda, Reliance Ind. and Reliance Infra lost 2–8%. Among mid caps, KGN
Ind., Shree Global Trd, Puravankara Proj, Berger Paints and Strides Arco gained
4–5%, while Motilal Oswal, Kwality Dairy, Indiabulls Fin, Prestige Estates and
India Cements lost 4–7%.
Markets Today
The trend deciding level for the day is 18,219/5,461 levels. If NIFTY trades
above this level during the first half-an-hour of trade then we may witness a
further rally up to 18,354–18,570/5,502–5,564 levels. However, if NIFTY
trades below 18,219/5,461 levels for the first half-an-hour of trade then it may
correct up to 18,003–17,868/5,399–5,358 levels.
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
Dealer’s Diary
The key benchmark indices tumbled to their eight-week lows, weighed by
dismal earnings from banking giant State Bank of India (SBI). Investors are
worried that high interest rates may hit consumption demand and curtail
corporate profitability. To begin with, the market opened in the green but
slipped into the negative terrain in mid-morning trade. The market breadth,
indicating the health of the market, was weak. The intraday recovery proved
short-lived as the market weakened again during mid afternoon trade. The key
benchmark indices cut losses as a bout of volatility was seen in late trade. The
Sensex and Nifty closed down by 1.1% each. The mid-cap and small-cap
indices registered loss of 0.7% and 0.6%, respectively. Among the front liners,
Jindal Steel, HUL, TCS, ITC and DLF gained 0–2%, while SBI, ONGC, Hero
Honda, Reliance Ind. and Reliance Infra lost 2–8%. Among mid caps, KGN
Ind., Shree Global Trd, Puravankara Proj, Berger Paints and Strides Arco gained
4–5%, while Motilal Oswal, Kwality Dairy, Indiabulls Fin, Prestige Estates and
India Cements lost 4–7%.
Markets Today
The trend deciding level for the day is 18,219/5,461 levels. If NIFTY trades
above this level during the first half-an-hour of trade then we may witness a
further rally up to 18,354–18,570/5,502–5,564 levels. However, if NIFTY
trades below 18,219/5,461 levels for the first half-an-hour of trade then it may
correct up to 18,003–17,868/5,399–5,358 levels.
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