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Dealer’s Diary
The key benchmark indices opened on a positive note following strong cues
from Asian markets. The market soon lost the initial momentum and slipped
into the red for a brief period in mid-morning trade on account of profit
booking. The indices regained strength in the afternoon session and touched
fresh intra-day highs as buying emerged at lower levels. However, investors
turned cautious again after Pranab Mukherjee said that the government has
resumed talks with Mauritius on a double taxation avoidance agreement.
Finally, the market pared some of its gains and market breadth turned negative.
The Sensex and Nifty closed modestly higher with gains of 0.3% each. The
mid-cap and small-cap indices underperformed and closed with losses of 0.2%
and 0.4%, respectively. Among the front runners, TCS, HDFC, RIL, Hero Honda
and HDFC Bank gained 1–4%, while JP Associates, DLF, Reliance Infra, SBI and
ICICI Bank lost 3–8%. Among mid caps, Pfizer, Jain Irrigation, Cox Kings, EID
Parry and Wyeth gained 3–5%, while S Kumar Nationwide, Orchid Chemicals,
Gammon Infra, SpiceJet and Sterling International lost 5–12%.
Markets Today
The trend deciding level for the day is 17,663/5,285 levels. If NIFTY trades
above this level during the first half-an-hour of trade then we may witness a
further rally up to 17,822 – 18,084/5,313 – 5,351 levels. However, if NIFTY
trades below 17,663/5,285 levels for the first half-an-hour of trade then it may
correct up to 17,401 – 17,242/5,248 – 5,220 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 on a positive note following strong cues
from Asian markets. The market soon lost the initial momentum and slipped
into the red for a brief period in mid-morning trade on account of profit
booking. The indices regained strength in the afternoon session and touched
fresh intra-day highs as buying emerged at lower levels. However, investors
turned cautious again after Pranab Mukherjee said that the government has
resumed talks with Mauritius on a double taxation avoidance agreement.
Finally, the market pared some of its gains and market breadth turned negative.
The Sensex and Nifty closed modestly higher with gains of 0.3% each. The
mid-cap and small-cap indices underperformed and closed with losses of 0.2%
and 0.4%, respectively. Among the front runners, TCS, HDFC, RIL, Hero Honda
and HDFC Bank gained 1–4%, while JP Associates, DLF, Reliance Infra, SBI and
ICICI Bank lost 3–8%. Among mid caps, Pfizer, Jain Irrigation, Cox Kings, EID
Parry and Wyeth gained 3–5%, while S Kumar Nationwide, Orchid Chemicals,
Gammon Infra, SpiceJet and Sterling International lost 5–12%.
Markets Today
The trend deciding level for the day is 17,663/5,285 levels. If NIFTY trades
above this level during the first half-an-hour of trade then we may witness a
further rally up to 17,822 – 18,084/5,313 – 5,351 levels. However, if NIFTY
trades below 17,663/5,285 levels for the first half-an-hour of trade then it may
correct up to 17,401 – 17,242/5,248 – 5,220 levels.
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