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Dealer’s Diary
The key benchmark indices extended losses in late trade as European stocks
moved off highs ahead of the crucial US nonfarm payrolls data. The market hit
a fresh intraday low in morning trade. Sustained selling pulled the market to a
fresh intraday low in mid-morning trade. The market came off lows in early
afternoon trade. A bout of volatility was witnessed as key benchmark indices
declined once again after regaining the positive zone for a short while in
afternoon trade. Weakness persisted in mid-afternoon trade. The market
extended losses in late trade. The market closed down with the Sensex and Nifty
losing 1.2% each. The mid-cap and small-cap indices closed down by 0.6% and
0.9%, respectively. Among the front runners, DLF, Hero Honda, ONGC,
Bajaj Auto and Maruti Suzuki gained 0–1%, while Sterlite, Hindalco,
JP Associates, ICICI Bank and Jindal Steel lost 3–4%. Among mid caps,
SKS Microfinance, DB Realty, JSL, Peninsula Land and Himadri Chemical
gained 4–20%, while Orchid Chemicals, KGN Inds., Spice Mobile, Tata Global
Beverages and ING Vysya Bank lost 4–9%.
Markets Today
The trend deciding level for the day is 18,936/5,684 levels. If NIFTY trades
above this level during the first half-an-hour of trade then we may witness a
further rally up to 19,054–19,250/5,717–5,773 levels. However, if NIFTY
trades below 18,936/5,684 levels for the first half-an-hour of trade then it may
correct up to 18,740–18,622/5,628–5,595 levels.
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