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Economic and Political News
ED Scanner on foreign buyers of new telecom companies
Food inflation dips to 12.3% for the week ended October 30
Miners to have final say, ‘no go’ areas end nears
Corporate News
ICICI, Axis Bank infra NBFCs hit RBI hurdle
Government may raise stake in Union Bank of India to 60%
HDIL lines up mega residential project
Parsvanath buys NCR railway land for `1,652cr
Source: Economic Times, Business Standard, Business Line, Financial Express, Mint
Dealer’s Diary
Erasing early gains, the benchmark indices plummeted as investors booked
profit following mixed bag of quarterly earnings and weak European cues. All
sectoral indices were in the red as selling pressure spread over a wide front. The
market pared gains after a firm start. The market cut losses in
mid-morning trade. It remained weak in afternoon trade and continued its
downward trend to hit fresh intraday lows in late trade, with the Sensex and
Nifty closing down by 1.4% and 1.3%, respectively. BSE mid-cap and small-cap
indices lost 1.1% and 0.5%, respectively. Among the front liners, Hindalco Inds,
Tata Power, Reliance Infra, M&M and Hero Honda gained 0-3%, while DLF,
Jaiprakash Asso, Bharti Airtel, Cipla and BHEL lost 3-4%. Among mid caps,
Sterlite Tech, Network18 Media, Honeywell Auto, AIA Eng and Astrazeneca
Pharma gained 4-6%, while Apollo Tyres, Himadri Chem, TVS Motors,
Wockhardt and Sun Pharma Adv lost 5-7%.
Markets Today
The trend deciding level for the day is 20690/6223 levels. If NIFTY trades
above this level during the first half-an-hour of trade then we may witness a
further rally up to 20836–21083/6267-6340 levels. However, if NIFTY trades
below 20690/6223 levels for the first half-an-hour of trade then it may correct
up to 20443–20297/6150-6106 levels.
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