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Dealer’s Diary
The key benchmark indices opened the day on a positive note defying weak
cues from the Asian markets. Soon the major indices plunged on reports that
the Indian government is reviewing a double tax avoidance treaty with
Mauritius. The markets witnessed high volatility in morning trade as it recovered
from lower levels of the day following the clarification that the Indian
government is not currently in talks with Mauritius government. The benchmark
indices moved in a tight range in the negative terrain in early afternoon trade.
However, the markets weakened again in mid-afternoon trade as European
shares opened in the negative zone. The market extended losses in late trade
with Sensex and Nifty closing with losses of 2% each. The Mid-cap and
Small-cap index underperformed and closed with losses of 3.2% and 3.3%,
respectively. Among the front runners, Bharti Airtel, Hindustan Unilever,
Hero Honda gained 0–3% while, Reliance Communications, Reliance Infra,
Tata Motors, RIL and TCS lost 3–8%. Among mid-caps, Godfrey Phillips,
Tata Teleservices, Kwality Dairy, Religare Enterprises and Amara Raja Batteries
gained 1-4% while, GTL, GTL Infra, KS Oils, Spicejet and
S Kumar Nationwide lost 9-63%.
Markets Today
The trend deciding level for the day is 17,627/5,277 levels. If NIFTY trades
above this level during the first half-an-hour of trade then we may witness a
further rally up to 17,940 - 18,373/5,358 - 5,459 levels. However, if NIFTY
trades below 17,627/5,277 levels for the first half-an-hour of trade then it may
correct up to 17,194 - 16,881/5,177 - 5096 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 the day on a positive note defying weak
cues from the Asian markets. Soon the major indices plunged on reports that
the Indian government is reviewing a double tax avoidance treaty with
Mauritius. The markets witnessed high volatility in morning trade as it recovered
from lower levels of the day following the clarification that the Indian
government is not currently in talks with Mauritius government. The benchmark
indices moved in a tight range in the negative terrain in early afternoon trade.
However, the markets weakened again in mid-afternoon trade as European
shares opened in the negative zone. The market extended losses in late trade
with Sensex and Nifty closing with losses of 2% each. The Mid-cap and
Small-cap index underperformed and closed with losses of 3.2% and 3.3%,
respectively. Among the front runners, Bharti Airtel, Hindustan Unilever,
Hero Honda gained 0–3% while, Reliance Communications, Reliance Infra,
Tata Motors, RIL and TCS lost 3–8%. Among mid-caps, Godfrey Phillips,
Tata Teleservices, Kwality Dairy, Religare Enterprises and Amara Raja Batteries
gained 1-4% while, GTL, GTL Infra, KS Oils, Spicejet and
S Kumar Nationwide lost 9-63%.
Markets Today
The trend deciding level for the day is 17,627/5,277 levels. If NIFTY trades
above this level during the first half-an-hour of trade then we may witness a
further rally up to 17,940 - 18,373/5,358 - 5,459 levels. However, if NIFTY
trades below 17,627/5,277 levels for the first half-an-hour of trade then it may
correct up to 17,194 - 16,881/5,177 - 5096 levels.
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