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Economic and Political News
Food inflation at 10.3% yoy on November 6, says government
India-Canada FTA to help boost bilateral trade to US $15bn
Indian now eyes government panel to decide sugar exports
Corporate News
Bharti Airtel to launch 3G services by December end
ONGC to spend `500cr for renewable energy R&D
Oil output to increase after 10 years of flat growth, says ONGC
Sun Pharma gets US nod for allergy, BP drugs
Source: Economic Times, Business Standard, Business Line, Financial Express, Mint
Dealer’s Diary
The key benchmark indices edged higher in a highly volatile trade on firm
global stocks. The Sensex slipped into the red in morning trade but cut losses in
mid-morning trade after falling sharply to hit a fresh intraday low. The market
regained the positive zone in early afternoon trade and slipped into the red for
a brief period in mid-afternoon, as European stocks rose in early trade and
remained volatile in late trade. The market ended in green with the Sensex and
Nifty closing with gains of 0.3% and 0.2%, respectively. The mid-cap and
small-cap indices closed with losses of 0.3% and 1.1%, respectively. Among the
front liners Hero Honda, Hindalco, Cipla, Bharti Airtel and Tata Steel were
up 3–6%, while RCOM, ICICI Bank, Jindal Steel, Tata Power and ONGC
lost 1–5%. Among mid caps, KGN Industries, Bata India, DEN Network,
Bhushan Steel and GMDC gained 4–10%, while MVL, Indiabulls Fin.,
Kwality Dairy, Cholamandalam Investments, Ruchi Soya and Escorts lost 4–7%.
Markets Today
The trend deciding level for the day is 19868/5994 levels. If NIFTY trades
above this level during the first half-an-hour of trade then we may witness a
further rally up to 20120–20308/6081–6163 levels. However, if NIFTY trades
below 19868/5994 levels for the first half-an-hour of trade then it may correct
up to 19679–19427/5912–5824 levels.
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