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Dealer’s Diary
The key benchmark indices fell on weak US job data and as eurozone debt
worries resurfaced. The market came off lows after an initial slide triggered by
weak Asian shares. The intraday recovery proved short-lived. The market came
off highs in mid-morning trade and extended the decline in early afternoon
trade, with the S&P CNX Nifty sliding to a fresh intraday low. The market
extended losses in afternoon trade as European stocks opened lower. A bout of
volatility was witnessed in mid-afternoon trade as the key benchmark indices
pared losses soon after hitting fresh intraday lows. The market closed down with
the Sensex and Nifty losing 0.7% and 0.8%, respectively. The mid-cap and
small-cap indices closed down by 0.3% and 0.4%, respectively. Among the front
runners, ONGC, M&M, ITC, RCom and Sterlite Inds gained 0–2%, while
Hindalco, DLF, Wipro, Infosys and JP Associates lost 2–4%. Among mid caps,
SKS Microfinance, Motherson Sumi, Godrej Properties, KGN Inds and Shree
Global Trading gained 5–10%, while DB Realty, Polaris Software, Glodyne
Tech, Blue Dart and Peninsula Land lost 3–6%.
Markets Today
The trend deciding level for the day is 18,748/5,624 levels. If NIFTY trades
above this level during the first half-an-hour of trade then we may witness a
further rally up to 18,187–18,913/5,645-5,675 levels. However, if NIFTY
trades below 18,748/5,624 levels for the first half-an-hour of trade then it may
correct up to 18,653–18,584/5,594-5,572 levels
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