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Economic and Political News
Sebi asks MFs to simplify new fund offers
SEBI plans to cut IPO process time to 7 days
MFIs seek RBI directive for `1,000cr fund by banks
Govt. challenges TDSAT order against penalty on 12 telcos
Regulator sends notice to airlines over exorbitant fares
Corporate News
Mexico’s Cemex set to buy Murli Cement for US $550mn
M&M lines up 7 new vehicles over 18 months
NALCO cuts aluminium prices by `4,000/tonne
Dr. Reddy's gets FDA nod to launch anti-asthma tablets in US
IOC to pick up 26% stake in NPCIL Kota N-plant for `900cr
Vedanta seals US $6bn financing for Cairn India deal
Source: Economic Times, Business Standard, Business Line, Financial Express, Mint
Events for
Dealer’s Diary
The key benchmark indices slumped, with markets keeping a watchful eye on
events out of Ireland. The market opened on a negative note, despite strong
global cues. The market mildly recovered from the early lows in the
mid-morning session, after erasing some of the previous hour losses. The key
indices continued to trade weak below the baseline, largely on the back of profit
booking amidst mixed cues from other Asian bourses. The market regained
some of its losses in early afternoon trade, after witnessing some significant
recovery in the midsession. However, triggered by sell-off in late trade, the
market slipped further into the negative territory, with selling pressure witnessed
across the realty, banking and metal sectors. The Sensex and Nifty closed with
losses of 1.7% and 1.8%, respectively. The mid-cap and the small-cap indices
also closed with losses of around 2% each. Among the front liners Hero Honda,
Bharti Airtel, L&T and HUL gained 0–2%, while Reliance Infra., Hindalco, Wipro,
RCOM and DLF lost 4–5%. Among mid caps, Educomp, Glenmark Pharma,
United Breweries, Polaris and Unichem Labs. gained 3–7%, while Videocon,
Indiabulls, SCI, India Infoline and Bata India Ltd. lost 7–9%.
Markets Today
The trend deciding level for the day is 19691 / 5923 levels. If NIFTY trades
above this level during the first half-an-hour of trade then we may witness a
further rally up to 19877 – 20169 / 5981 – 6072 levels. However, if NIFTY
trades below 19691 / 5923 levels for the first half-an-hour of trade then it may
correct up to 19399 – 19213 / 5832 – 5773 levels.
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