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Dealer’s Diary
The key benchmark indices surged to fresh intraday highs in morning trade as
bargain hunting emerged after the recent sharp losses. The market breadth
remained strong. However, the volatility was witnessed as the key benchmark
indices slipped into the red in mid-morning trade on weak Asian stocks, which
were pulled on the back of US debt worries. The market was marginally lower
after trimming losses in early afternoon trade. The market reversed losses and
entered the positive terrain in afternoon trade. Telecom shares witnessed
increased buying, whereas realty stocks extended losses on the worries in
increased borrowing rates. However, overall macro concerns as well as US debt
woes weighed heavily, which pulled back the indices to close on a flat note. The
Sensex and Nifty closed down by around 0.1% each. The mid-cap and smallcap
indices closed down by 0.7% each. Among the front runners, ICICI Bank,
Maruti Suzuki, Bharti Airtel, Bajaj Auto and ITC gained 1–2%, while Jaiprakash
Associates, Jindal Steel, ONGC, Hero Honda and Sterlite lost 2–5%. Among
mid caps, EIH, GTL, GTL Infra., Cox & Kings and Bata India gained 6–12%,
while Orchid Chemicals, SpiceJet, JSL, Jai Corp. and Sterlite Technologies lost
6–11%.
Markets Today
The trend deciding level for the day is 18,221/5,485 levels. If NIFTY trades
above this level during the first half-an-hour of trade then we may witness a
further rally up to 18,310 – 18,424/5,517 – 5,552 levels. However, if NIFTY
trades below 18,221/5,485 levels for the first half-an-hour of trade then it may
correct up to 18,108 – 18,019/5,451 – 5,419 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 fresh intraday highs in morning trade as
bargain hunting emerged after the recent sharp losses. The market breadth
remained strong. However, the volatility was witnessed as the key benchmark
indices slipped into the red in mid-morning trade on weak Asian stocks, which
were pulled on the back of US debt worries. The market was marginally lower
after trimming losses in early afternoon trade. The market reversed losses and
entered the positive terrain in afternoon trade. Telecom shares witnessed
increased buying, whereas realty stocks extended losses on the worries in
increased borrowing rates. However, overall macro concerns as well as US debt
woes weighed heavily, which pulled back the indices to close on a flat note. The
Sensex and Nifty closed down by around 0.1% each. The mid-cap and smallcap
indices closed down by 0.7% each. Among the front runners, ICICI Bank,
Maruti Suzuki, Bharti Airtel, Bajaj Auto and ITC gained 1–2%, while Jaiprakash
Associates, Jindal Steel, ONGC, Hero Honda and Sterlite lost 2–5%. Among
mid caps, EIH, GTL, GTL Infra., Cox & Kings and Bata India gained 6–12%,
while Orchid Chemicals, SpiceJet, JSL, Jai Corp. and Sterlite Technologies lost
6–11%.
Markets Today
The trend deciding level for the day is 18,221/5,485 levels. If NIFTY trades
above this level during the first half-an-hour of trade then we may witness a
further rally up to 18,310 – 18,424/5,517 – 5,552 levels. However, if NIFTY
trades below 18,221/5,485 levels for the first half-an-hour of trade then it may
correct up to 18,108 – 18,019/5,451 – 5,419 levels.
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