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Dealer’s Diary
The key benchmark indices surged to its highest level in more than eight weeks
at the onset of the trading session on firm Asian stocks. A bout of volatility was
witnessed in morning trade as the market pared gains and moved in a tight
range in a positive terrain in mid-morning trade. The market regained strength
after paring gains to hit fresh intraday low in early afternoon trade after the
latest government data showed easing of food inflation in mid-June 2011.
Immense volatility was witnessed, triggered by traders rolling over positions in
the derivatives segment from June 2011 series to July 2011 series, in late trade
as the market trimmed gains after hitting eight-week highs. Data showing
sustained buying by foreign funds over the past few sessions, firm global stocks
and easing of food inflation underpinned sentiment as the market extended its
winning streak into the sixth straight day with the Sensex and Nifty ending up by
0.8% each. The mid-cap and small-cap indices ended up by 0.3% and 0.6%,
respectively. Among the front-runners, Jaiprakash Associates, HUL, Jindal Steel,
Tata Power and Hero Honda gained 1–4%, while ONGC, Maruti Suzuki, Bharti
Airtel, Wipro and Hindalco Industries lost 0–2%. Among mid caps, Himadri
Chemicals, Mindtree, TTSL, Honeywell Auto and Jubilant Foodworks gained
6–9%, while GTL, Network18 Media, KGN Industries, Jain Irrigation and
SpiceJet lost 3–5%.
Markets Today
The trend deciding level for the day is 18,814/5,637 levels. If Nifty trades
above this level during the first half-an-hour of trade then we may witness a
further rally up to 18,905–18,964/5,668-5,689 levels. However, if Nifty trades
below 18,814/5,637 levels for the first half-an-hour of trade then it may correct
up to 18,755–18,664/5,616-5,585 levels.
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
Dealer’s Diary
The key benchmark indices surged to its highest level in more than eight weeks
at the onset of the trading session on firm Asian stocks. A bout of volatility was
witnessed in morning trade as the market pared gains and moved in a tight
range in a positive terrain in mid-morning trade. The market regained strength
after paring gains to hit fresh intraday low in early afternoon trade after the
latest government data showed easing of food inflation in mid-June 2011.
Immense volatility was witnessed, triggered by traders rolling over positions in
the derivatives segment from June 2011 series to July 2011 series, in late trade
as the market trimmed gains after hitting eight-week highs. Data showing
sustained buying by foreign funds over the past few sessions, firm global stocks
and easing of food inflation underpinned sentiment as the market extended its
winning streak into the sixth straight day with the Sensex and Nifty ending up by
0.8% each. The mid-cap and small-cap indices ended up by 0.3% and 0.6%,
respectively. Among the front-runners, Jaiprakash Associates, HUL, Jindal Steel,
Tata Power and Hero Honda gained 1–4%, while ONGC, Maruti Suzuki, Bharti
Airtel, Wipro and Hindalco Industries lost 0–2%. Among mid caps, Himadri
Chemicals, Mindtree, TTSL, Honeywell Auto and Jubilant Foodworks gained
6–9%, while GTL, Network18 Media, KGN Industries, Jain Irrigation and
SpiceJet lost 3–5%.
Markets Today
The trend deciding level for the day is 18,814/5,637 levels. If Nifty trades
above this level during the first half-an-hour of trade then we may witness a
further rally up to 18,905–18,964/5,668-5,689 levels. However, if Nifty trades
below 18,814/5,637 levels for the first half-an-hour of trade then it may correct
up to 18,755–18,664/5,616-5,585 levels.
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