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Dealer’s Diary
The key benchmark indices started on a firm note buoyed by positive global
cues. Sustained buying by FIIs over the past few days also boosted the
sentiment. Strong momentum was witnessed in auto stocks, triggered by
expectations that sales will see an uptick in 2HFY2012. With market breadth
remaining strong, the firmness continued until early afternoon trade, with the
indices hovering near one-week high. Increased buying was witnessed in capital
goods, reality and FMCG stocks. Slight volatility was witnessed, which drifted
the indices marginally. However, the market regained strength in mid-afternoon
trade after paring gains from intraday highs earlier. The market closed on a
strong note with the Sensex and Nifty posting gains of 1.9% and 1.8%,
respectively. The mid-cap and small-cap indices also gained around 1.1 each.
Among the front-runners, Bharti Airtel, Hindalco, ITC, L&T and NTPC gained
3–4%. Among mid caps, SKS Microfinance, Tata Teleservices, DB Realty, Godrej
Inds. and Sterling Biochemicals Ltd. gained 8–20%, while KGN Inds., Tecpro
Systems, Kirloskar Oil Engines, Sunteck Realty and Persistent Systems lost 2–5%.
Markets Today
The trend deciding level for the day is 18981 / 5700 levels. If NIFTY trades
above this level during the first half-an-hour of trade then we may witness a
further rally up to 19195 – 19312 / 5766 - 5804 levels. However, if NIFTY
trades below 18981 / 5700 levels for the first half-an-hour of trade then it may
correct up to 18864 – 18651 / 5662 - 5595 levels.
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