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Dealer’s Diary
The key benchmark indices opened lower in early trade following weak global
market cues. However, the market soon turned positive and traded in green as
value buying was witnessed in frontline stocks. The indices continued to trade
strong despite higher weekly inflation numbers. According to data released by
the Ministry of Commerce and Industry, India’s food price index rose to
two-month high of 9.13% for the week ended June 11, 2011. Further, the
market extended gains to hit fresh intraday high in afternoon trade. However,
the indices pared some of their gains in mid-afternoon trade as European
stocks fell in early trade. Finally, the market rallied to regain the psychological
levels of 5,300 and 17,700 at the close for the Nifty and Sensex, respectively.
The Sensex closed in green, up 1.0%, while Nifty gained 0.8%. The mid-cap
and small-cap indices underperformed and closed with losses of 0.1% and
0.3%, respectively. Among the front runners, ITC, RCOM, RIL, Hindustan
Unilever and ONGC gained 1–4%, while Cipla, Maruti Suzuki, BHEL,
HDFC and Hindalco lost 0–2%. Among mid caps, Jain Irrigation, Kirloskar
Oil Engines, Usha Martin, Videocon Ind. and Shree Global gained 4–8%,
while GTL, Peninsula Land, Havells India, SKS Microfinance and
India Cements lost 4–7%.
Markets Today
The trend deciding level for the day is 17,655/5,301 levels. If NIFTY trades
above this level during the first half-an-hour of trade then we may witness a
further rally up to 17,827 – 17,927/5,350 – 5,379 levels. However, if NIFTY
trades below 17,655/5,301 levels for the first half-an-hour of trade then it may
correct up to 17,555 – 17,382/5,271 – 5,223 levels
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
Dealer’s Diary
The key benchmark indices opened lower in early trade following weak global
market cues. However, the market soon turned positive and traded in green as
value buying was witnessed in frontline stocks. The indices continued to trade
strong despite higher weekly inflation numbers. According to data released by
the Ministry of Commerce and Industry, India’s food price index rose to
two-month high of 9.13% for the week ended June 11, 2011. Further, the
market extended gains to hit fresh intraday high in afternoon trade. However,
the indices pared some of their gains in mid-afternoon trade as European
stocks fell in early trade. Finally, the market rallied to regain the psychological
levels of 5,300 and 17,700 at the close for the Nifty and Sensex, respectively.
The Sensex closed in green, up 1.0%, while Nifty gained 0.8%. The mid-cap
and small-cap indices underperformed and closed with losses of 0.1% and
0.3%, respectively. Among the front runners, ITC, RCOM, RIL, Hindustan
Unilever and ONGC gained 1–4%, while Cipla, Maruti Suzuki, BHEL,
HDFC and Hindalco lost 0–2%. Among mid caps, Jain Irrigation, Kirloskar
Oil Engines, Usha Martin, Videocon Ind. and Shree Global gained 4–8%,
while GTL, Peninsula Land, Havells India, SKS Microfinance and
India Cements lost 4–7%.
Markets Today
The trend deciding level for the day is 17,655/5,301 levels. If NIFTY trades
above this level during the first half-an-hour of trade then we may witness a
further rally up to 17,827 – 17,927/5,350 – 5,379 levels. However, if NIFTY
trades below 17,655/5,301 levels for the first half-an-hour of trade then it may
correct up to 17,555 – 17,382/5,271 – 5,223 levels
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