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Markets Today
The trend deciding level for the day is 19450/5840 levels. If NIFTY trades
above this level during the first half-an-hour of trade then we may witness a
further rally up to 19682 - 19842/5915 - 5968 levels. However, if NIFTY trades
below 19450/5840 levels for the first half-an-hour of trade then it may correct
up to 19289 - 19057/5787 - 5711 levels
Dealer’s Diary
The market belled the day on a downbeat note as the key benchmark indices
witnessed a gap-down opening on the back of negative cues from global
markets. The indices traded range bound in the negative terrain thereafter,
ahead of the scheduled release of the GDP data for the September quarter.
Soon the market witnessed a strong upsurge in afternoon session and the
benchmark indices traded in the positive terrain on the back of better-thanestimated
GDP figures for the September quarter. The Indian economy grew by
robust 8.9% yoy during 2QFY2011, maintaining the same pace of expansion as
the previous quarter, boosted by farm output and the manufacturing sector. The
positive opening for the European market further supported the upmove post
the afternoon session. Though the indices pared some gains, they still managed
to close in the green, with the Sensex and Nifty up 0.6% each, respectively. BSE
mid-cap and small-cap indices outperformed the broader market, closing with
gains of 1.4% and 1.9%, respectively. Among the front liners, DLF, Bharti Airtel,
Tata Motors, SBI and RCOM gained 3–7%, while Tata Steel, Reliance Ind. (RIL),
ICICI Bank, Tata Power and L&T lost 0–2%. Among mid caps, Core Projects,
Kwality Dairy, Berger Paints, Prakash Ind. and Cholamandalam Inv. gained 8–
17%, while Money Matters, Shree Ashtavinayak, Den Network, Wockhardt and
Blue Dart lost 2–10%.
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