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Dealer’s Diary
The key benchmark indices recovered soon after an initial slide triggered by
weak Asian shares. The market alternatively swung between gains and losses
in morning trade and weak Asian shares weighed on the market in midmorning
trade. A bout of volatility was witnessed as the market trimmed losses
soon after hitting fresh intraday lows in early afternoon trade. Immense
volatility was witnessed again as traders rolled over positions in the derivatives
segment from the near-month August 2011 series to September 2011 series
and the market lost ground in mid-afternoon trade, soon after staging an
intraday rebound. The market slumped in late trade uncertain global economic
environment with Sensex and Nifty closing up down by 1.3% and1.2%,
respectively. The mid-cap and small cap indices closed down by 0.5% each.
Among the front runners, HUL, Hindalco Industries and HDFC gained 0-1%
while, Coal India, Tata Power, Tata Steel, Tata Motors and Maruti Suzuki lost
4-5%. Among mid-caps, India Securities, Anant Raj Industries, Aventis Pharma,
Infotech Enterprises and India Infoline gained 5-8% while, Deccan Chronicle,
Sujana Towers, Pantaloon Retail, HDIL and Manappuram Finance lost 6-12%.
Markets Today
The trend deciding level for the day is 16,357/4,909 levels. If NIFTY trades
above this level during the first half-an-hour of trade then we may witness a
further rally up to 16,461–16,637/4,942–4,996 levels. However, if NIFTY
trades below 16,357/4,909 levels for the first half-an-hour of trade then it may
correct up to 16,181–16,078/4,855–4,822 levels.
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
Dealer’s Diary
The key benchmark indices recovered soon after an initial slide triggered by
weak Asian shares. The market alternatively swung between gains and losses
in morning trade and weak Asian shares weighed on the market in midmorning
trade. A bout of volatility was witnessed as the market trimmed losses
soon after hitting fresh intraday lows in early afternoon trade. Immense
volatility was witnessed again as traders rolled over positions in the derivatives
segment from the near-month August 2011 series to September 2011 series
and the market lost ground in mid-afternoon trade, soon after staging an
intraday rebound. The market slumped in late trade uncertain global economic
environment with Sensex and Nifty closing up down by 1.3% and1.2%,
respectively. The mid-cap and small cap indices closed down by 0.5% each.
Among the front runners, HUL, Hindalco Industries and HDFC gained 0-1%
while, Coal India, Tata Power, Tata Steel, Tata Motors and Maruti Suzuki lost
4-5%. Among mid-caps, India Securities, Anant Raj Industries, Aventis Pharma,
Infotech Enterprises and India Infoline gained 5-8% while, Deccan Chronicle,
Sujana Towers, Pantaloon Retail, HDIL and Manappuram Finance lost 6-12%.
Markets Today
The trend deciding level for the day is 16,357/4,909 levels. If NIFTY trades
above this level during the first half-an-hour of trade then we may witness a
further rally up to 16,461–16,637/4,942–4,996 levels. However, if NIFTY
trades below 16,357/4,909 levels for the first half-an-hour of trade then it may
correct up to 16,181–16,078/4,855–4,822 levels.
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