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Dealer’s Diary
The key benchmark indices recovered soon after a weak start, but this
intraday recovery proved short-lived as the market weakened again later.
Intraday volatility continued as the market hovered near the day's low in
morning trade and hit a fresh intraday low in mid-morning trade. The market
extended initial losses to hit one-week low in early afternoon trade and
tumbled in afternoon trade as European shares opened on a weak note. The
market further extended losses in mid-afternoon trade. The decline on the
bourses was broad-based and the market breadth was quite weak. All the 13
sectoral indices on the BSE were in red. Fears of weak 2Q September 2011
corporate earnings and a rout in global stocks triggered by data showing a
further slowdown in China's manufacturing sector and Federal Reserve's
assessment that the US economy faces significant downside risks rattled
Indian shares and the market tumbled. The Sensex and Nifty closed down by
4.1% each. The mid-cap and small-cap indices closed down by 3.1% each.
Among the front runners, none of the stocks ended in green, while
Jaiprakash Associates, DLF, Sterlite Industries, RIL and Tata Motors lost 6-9%.
Among mid caps, KGN Industries, Shree Cement, Mindtree,
Aventis Pharma and HT Media gained 0-5%, while S Kumar Nation,
Educomp Solutions, Delta Corp, Shree Renuka Sugars and Jubilant
Lifesciences lost 8-10%.
Markets Today
The trend deciding level for the day is 16,504/4,964 levels. If Nifty trades
above this level during the first half-an-hour of trade then we may witness a
further rally up to 16,691–17,021/5,020–5,116 levels. However, if Nifty
trades below 16,504/4,964 levels for the first half-an-hour of trade then it
may correct up to 16,174–15,986/4,868–4,812 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 a weak start, but this
intraday recovery proved short-lived as the market weakened again later.
Intraday volatility continued as the market hovered near the day's low in
morning trade and hit a fresh intraday low in mid-morning trade. The market
extended initial losses to hit one-week low in early afternoon trade and
tumbled in afternoon trade as European shares opened on a weak note. The
market further extended losses in mid-afternoon trade. The decline on the
bourses was broad-based and the market breadth was quite weak. All the 13
sectoral indices on the BSE were in red. Fears of weak 2Q September 2011
corporate earnings and a rout in global stocks triggered by data showing a
further slowdown in China's manufacturing sector and Federal Reserve's
assessment that the US economy faces significant downside risks rattled
Indian shares and the market tumbled. The Sensex and Nifty closed down by
4.1% each. The mid-cap and small-cap indices closed down by 3.1% each.
Among the front runners, none of the stocks ended in green, while
Jaiprakash Associates, DLF, Sterlite Industries, RIL and Tata Motors lost 6-9%.
Among mid caps, KGN Industries, Shree Cement, Mindtree,
Aventis Pharma and HT Media gained 0-5%, while S Kumar Nation,
Educomp Solutions, Delta Corp, Shree Renuka Sugars and Jubilant
Lifesciences lost 8-10%.
Markets Today
The trend deciding level for the day is 16,504/4,964 levels. If Nifty trades
above this level during the first half-an-hour of trade then we may witness a
further rally up to 16,691–17,021/5,020–5,116 levels. However, if Nifty
trades below 16,504/4,964 levels for the first half-an-hour of trade then it
may correct up to 16,174–15,986/4,868–4,812 levels.
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