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Dealer’s Diary
Fresh selling during the last one hour of trade derailed a strong intraday
rebound after a steep initial sell-off dragged the key benchmark indices to
14-month lows. Stocks fell across the globe as a downgrade of the US credit
rating by Standard & Poor's on Friday, August 5, 2011, led investors to reduce
exposure to assets perceived as risky and escalated worries about the global
economic outlook. The market breadth was quite weak. All the 13 sectoral
indices on the BSE edged lower. The barometer index, BSE Sensex regained the
psychological 17,000 level after falling below that mark intermittently during the
day. The Sensex and Nifty closed down by 1.8% each. The mid-cap and smallcap
indices closed with losses of 1.5% and 2.2%, respectively. Among the front
runners, Hero Honda, ONGC, M&M, Baja Auto and HUL gained 0–4%, while
DLF, Hindalco Industries, Tata Motors, Infosys and TCS lost 4–7%. Among
mid caps, Allcargo Global, Wockhardt, India Securities, Chambal Fertilisers and
Wyeth gained 4–7%, while SREI Infra, Jai Corp., Electrosteel Steels, Gujarat NRE
Coke and HDIL lost 7–11%.
Markets Today
The trend deciding level for the day is 16,999/5,126 levels. If NIFTY trades
above this level during the first half-an-hour of trade then we may witness a
further rally up to 17,239–17,488/5,197–5,276 levels. However, if NIFTY
trades below 16,999/5,126 levels for the first half-an-hour of trade then it may
correct up to 16,750–16,511/ 5,047–4,975 levels.
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
Dealer’s Diary
Fresh selling during the last one hour of trade derailed a strong intraday
rebound after a steep initial sell-off dragged the key benchmark indices to
14-month lows. Stocks fell across the globe as a downgrade of the US credit
rating by Standard & Poor's on Friday, August 5, 2011, led investors to reduce
exposure to assets perceived as risky and escalated worries about the global
economic outlook. The market breadth was quite weak. All the 13 sectoral
indices on the BSE edged lower. The barometer index, BSE Sensex regained the
psychological 17,000 level after falling below that mark intermittently during the
day. The Sensex and Nifty closed down by 1.8% each. The mid-cap and smallcap
indices closed with losses of 1.5% and 2.2%, respectively. Among the front
runners, Hero Honda, ONGC, M&M, Baja Auto and HUL gained 0–4%, while
DLF, Hindalco Industries, Tata Motors, Infosys and TCS lost 4–7%. Among
mid caps, Allcargo Global, Wockhardt, India Securities, Chambal Fertilisers and
Wyeth gained 4–7%, while SREI Infra, Jai Corp., Electrosteel Steels, Gujarat NRE
Coke and HDIL lost 7–11%.
Markets Today
The trend deciding level for the day is 16,999/5,126 levels. If NIFTY trades
above this level during the first half-an-hour of trade then we may witness a
further rally up to 17,239–17,488/5,197–5,276 levels. However, if NIFTY
trades below 16,999/5,126 levels for the first half-an-hour of trade then it may
correct up to 16,750–16,511/ 5,047–4,975 levels.
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