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Dealer’s Diary
The market sentiment was weak as the global equity markets fell on fears over
global economic growth and the health of Europe's banking system. IT
company’s stocks saw an across the board slide on concerns that a likely
economic slowdown in the US and Europe will hit technology spending by
overseas clients. Bank stocks extended recent steep losses triggered by fears that
elevated interest rates would hurt borrowers' ability to repay loans and increase
delinquencies. BSE Sensex slipped below 16,000 levels during the day. The key
benchmark index regained the psychological 16,000 mark in mid-afternoon
trade. Bargain hunting in late trade helped the key benchmark indices trim
losses after a steep intraday fall took the market to 14-1/2-month low. The
Sensex and Nifty closed with losses of 2.0% each. The mid-cap and small-cap
indices ended with losses of 1.4% and 2.0%, respectively. Among the front
runners, Jaiprakash Asso, DLF, Hero Motocorp, Hindalco Industries and Tata
Power gained 1–3%, while Infosys, Tata Motors, L&T, BHEL and ICICI Bank lost
4–6%. Among mid caps, Graphite India, IRB Infra, Spicejet, Ashok Leyland and
3M gained 6–10%, while Voltas, Rolta India, CMC, Hathway Cable and REI
Agro lost 7–10%.
Markets Today
The trend deciding level for the day is 16,139/4,845 levels. If NIFTY trades
above this level during the first half-an-hour of trade then we may witness a
further rally up to 16,290–16,439/4,894–4,943 levels. However, if NIFTY
trades below 16,139/4,845 levels for the first half-an-hour of trade then it may
correct up to 15,990–15,839/4,797–4,748 levels.
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
Dealer’s Diary
The market sentiment was weak as the global equity markets fell on fears over
global economic growth and the health of Europe's banking system. IT
company’s stocks saw an across the board slide on concerns that a likely
economic slowdown in the US and Europe will hit technology spending by
overseas clients. Bank stocks extended recent steep losses triggered by fears that
elevated interest rates would hurt borrowers' ability to repay loans and increase
delinquencies. BSE Sensex slipped below 16,000 levels during the day. The key
benchmark index regained the psychological 16,000 mark in mid-afternoon
trade. Bargain hunting in late trade helped the key benchmark indices trim
losses after a steep intraday fall took the market to 14-1/2-month low. The
Sensex and Nifty closed with losses of 2.0% each. The mid-cap and small-cap
indices ended with losses of 1.4% and 2.0%, respectively. Among the front
runners, Jaiprakash Asso, DLF, Hero Motocorp, Hindalco Industries and Tata
Power gained 1–3%, while Infosys, Tata Motors, L&T, BHEL and ICICI Bank lost
4–6%. Among mid caps, Graphite India, IRB Infra, Spicejet, Ashok Leyland and
3M gained 6–10%, while Voltas, Rolta India, CMC, Hathway Cable and REI
Agro lost 7–10%.
Markets Today
The trend deciding level for the day is 16,139/4,845 levels. If NIFTY trades
above this level during the first half-an-hour of trade then we may witness a
further rally up to 16,290–16,439/4,894–4,943 levels. However, if NIFTY
trades below 16,139/4,845 levels for the first half-an-hour of trade then it may
correct up to 15,990–15,839/4,797–4,748 levels.
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