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Dealer’s Diary
The market edged lower, tracking weak Asian shares. The market extended
initial losses to hit fresh intraday low in morning trade. The market breadth was
weak. Stocks remained depressed and some heavy sell-off was witnessed in IT
stocks on the back of weak economic data in the US. The market continued its
descend in the morning session and remained below the baseline due to poor
investor sentiments. The market sentiment also remained edgy on concerns over
elevated interest rates, which will crimp corporate profit growth. The market
further weakened on weak European stocks and 51/2-week lows in afternoon
trade. With dampened sentiments, the late trade session remained choppy,
thereby plunging the indices to a broad-based decline. The Sensex and Nifty
lost around 1.1% each. The mid-cap and small-cap indices also closed down by
~1.5%. Among the front runners, Cipla, NTPC, ONGC, RIL and Hero Honda
gained 0.4-2%, while JP Associates, RCom, SBI, Sterlite and Wipro lost 2–5%.
Among mid caps, Rashtriya Chemicals & Fertilizers, National Fertilisers,
Kirloskar Oil Engines, Chambal Fertilizers and Blue Dart Engines gained 3–9%,
while IVRCL, TTK Prestige A2Z Maintenance, Tata Teleservices, Orchid Chemical
and IVRCL Ltd. lost 6–7%.
Markets Today
The trend deciding level for the day is 18,144 / 5,462 levels. If NIFTY trades
above this level during the first half-an-hour of trade then we may witness a
further rally up to 18,250 – 18,389 / 5,491 – 5,525 levels. However, if NIFTY
trades below 18,144 / 5,462 levels for the first half-an-hour of trade then it
may correct up to 18,004 – 17,898 / 5,428 – 5,400 levels
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
Dealer’s Diary
The market edged lower, tracking weak Asian shares. The market extended
initial losses to hit fresh intraday low in morning trade. The market breadth was
weak. Stocks remained depressed and some heavy sell-off was witnessed in IT
stocks on the back of weak economic data in the US. The market continued its
descend in the morning session and remained below the baseline due to poor
investor sentiments. The market sentiment also remained edgy on concerns over
elevated interest rates, which will crimp corporate profit growth. The market
further weakened on weak European stocks and 51/2-week lows in afternoon
trade. With dampened sentiments, the late trade session remained choppy,
thereby plunging the indices to a broad-based decline. The Sensex and Nifty
lost around 1.1% each. The mid-cap and small-cap indices also closed down by
~1.5%. Among the front runners, Cipla, NTPC, ONGC, RIL and Hero Honda
gained 0.4-2%, while JP Associates, RCom, SBI, Sterlite and Wipro lost 2–5%.
Among mid caps, Rashtriya Chemicals & Fertilizers, National Fertilisers,
Kirloskar Oil Engines, Chambal Fertilizers and Blue Dart Engines gained 3–9%,
while IVRCL, TTK Prestige A2Z Maintenance, Tata Teleservices, Orchid Chemical
and IVRCL Ltd. lost 6–7%.
Markets Today
The trend deciding level for the day is 18,144 / 5,462 levels. If NIFTY trades
above this level during the first half-an-hour of trade then we may witness a
further rally up to 18,250 – 18,389 / 5,491 – 5,525 levels. However, if NIFTY
trades below 18,144 / 5,462 levels for the first half-an-hour of trade then it
may correct up to 18,004 – 17,898 / 5,428 – 5,400 levels
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