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Dealer’s Diary
The key benchmark indices slumped to 4½-month lows fuelled by foreign funds
sell-off amid fears of further interest rate hike on high inflation and fears of
slowing corporate earnings. The market slipped in red within minutes of
opening in green. There was no respite throughout the morning and afternoon
sessions as the market continued to slip. However, some buying was witnessed
at the onset of the final session as investors indulged in bottom-fishing,
enabling indices to recoup losses and close above the day’s lows. The Sensex
and Nifty closed with losses of 1.5% and 1.6%, respectively. The mid-cap and
small-cap indices sharply underperformed with losses of 2.7% and 3.6%,
respectively. Among the front liners, ONGC, Reliance Infra, HUL, Bharti Airtel
and HDFC Bank gained 0–2%, while DLF, M&M, Hindalco, Tata Motors and
BHEL lost 4–7%. Among mid caps, Money Matters, Redington India, Andhra
Bank, Shree Ashtavinayak and Peninsula gained 2–5%, while Blue Star, Sterlite
Tech, Cholamandalam Inv, Usha Martin and IVRCL Infra fell 9–12%.
Markets Today
The trend deciding level for the day is 18456/5529 levels. If NIFTY trades
above this level during the first half-an-hour of trade then we may witness a
further rally up to 18676 - 18956/5598 - 5684 levels. However, if NIFTY trades
below 18456/5529 levels for the first half-an-hour of trade then it may correct
up to 18176 - 17956/5443 - 5374 levels.
India Equity Research Reports, IPO and Stock News Visit http://indiaer.blogspot.com/ for complete details �� ��
Dealer’s Diary
The key benchmark indices slumped to 4½-month lows fuelled by foreign funds
sell-off amid fears of further interest rate hike on high inflation and fears of
slowing corporate earnings. The market slipped in red within minutes of
opening in green. There was no respite throughout the morning and afternoon
sessions as the market continued to slip. However, some buying was witnessed
at the onset of the final session as investors indulged in bottom-fishing,
enabling indices to recoup losses and close above the day’s lows. The Sensex
and Nifty closed with losses of 1.5% and 1.6%, respectively. The mid-cap and
small-cap indices sharply underperformed with losses of 2.7% and 3.6%,
respectively. Among the front liners, ONGC, Reliance Infra, HUL, Bharti Airtel
and HDFC Bank gained 0–2%, while DLF, M&M, Hindalco, Tata Motors and
BHEL lost 4–7%. Among mid caps, Money Matters, Redington India, Andhra
Bank, Shree Ashtavinayak and Peninsula gained 2–5%, while Blue Star, Sterlite
Tech, Cholamandalam Inv, Usha Martin and IVRCL Infra fell 9–12%.
Markets Today
The trend deciding level for the day is 18456/5529 levels. If NIFTY trades
above this level during the first half-an-hour of trade then we may witness a
further rally up to 18676 - 18956/5598 - 5684 levels. However, if NIFTY trades
below 18456/5529 levels for the first half-an-hour of trade then it may correct
up to 18176 - 17956/5443 - 5374 levels.
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