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The benchmark indices kicked off the day on a positive note, tracking strong
global cues. After paring gains in the morning session, the market slipped
below the baseline in afternoon trade as European stocks declined in early
trade. Selling pressure was witnessed among the realty, FMCG, metal and auto
sectors. The second half of the day continued to be in the negative terrain with
key benchmark indices closing in red. The Sensex and Nifty lost 0.5% and 0.6%,
respectively. BSE mid-cap and small-cap indices closed with gains of 0.3%
each. Among the front liners, TCS emerged as a strong runner, up 6%, while
Infosys, RCOM, ICICI Bank and RIL gained 0.2–0.7%. Among the top losers,
ITC, DLF, Jaiprakash Associates, Sterlite Inds. and Wipro lost 2–5%. Among
mid caps, SpiceJet, J&K Bank, Shriram City Union Finance, Pipapav Shipyard
and Indiabulls Fin. gained 7–11%, while Wockhardt, Bajaj Corp., JM Financial,
Mahindra & Mahindra Financial Services and Sterlite Tech lost 4–8%.
Markets Today
The trend deciding level for the day is 20202 / 6076 levels. If NIFTY trades
above this level during the first half-an-hour of trade then we may witness a
further rally up to 20316 – 20465 / 6111 - 6156 levels. However, if NIFTY
trades below 20202 / 6076 levels for the first half-an-hour of trade then it may
correct up to 20052 – 19939 / 6031 - 5996 levels.
Economic and Political News
FDI inflows plunge by about 60% in August
Forex reserves up US $641mn to US $296.43bn
Andhra HC allows MFIs to resume operations
Govt. divided on retail FDI as Ministry of Finance says no
Corporate News
RIL to temporarily close two units of Jamnagar refinery
ONGC may not exercise pre-emption rights in Cairn-Vedanta deal
Govt. notices to MMTC, 6 others for delay in coal mining
Raymond, union agree to `309cr compensation
Source: Economic Times, Business Standard, Business Line, Financial Express, Mint
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