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Dealer’s Diary
The key benchmark indices continued their uptrend during Mahurat Trading,
with the BSE Sensex getting past the intimidating 21,000 mark. Trading was
also marked by lot of stability as no major volatility was seen throughout the
trading session. All sectoral indices witnessed gains, with the auto and pharma
sectors posting the highest gains. The Sensex and Nifty ended the session with
healthy gains of 0.5% each. BSE mid-cap and small-cap indices outperformed
the benchmark indices to close the trading with gains of 0.9% and 1.5%,
respectively. Among the front liners, JP Associates, Hindalco, M&M, SBI and
HUL gained 1–4% while Jindal Steel, Tata Power and L&T lost 0–0.5%.
Among mid caps, Dish TV, Shriram City Union Finance, Onmobile Global,
Anant Raj Industries and City Union Bank gained 4–5%, while AIA Engg.,
Sadbhav Engg., Nava Bharat Ventures, Whirlpool and Alfa Laval lost 1–2%.
Markets Today
The trend deciding level for the day is 20805/6257 levels. If NIFTY trades
above this level during the first half-an-hour of trade then we may witness a
further rally up to 21005–21117/6315–6348 levels. However, if NIFTY trades
below 20805/6257 levels for the first half-an-hour of trade then it may correct
up to 20694–20494/6224–6166 levels.
Economic and Political News
Companies Act amendment for IFRS convergence in winter session
Govt. to mull gas allocation to power plants on November 10
Sugarcane lobby raises purchase price to all-time high
Corporate News
Govt. fixes Power Grid FPO price band at `85–90
L&T eyes US $300mn Oman refinery deal
NTPC to add 13,000MW of power capacity by 2012
Reliance Power secures US $5bn funding from US Exim Bank
Source: Economic Times, Business Standard, Business Line, Financial Express, Mint
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