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Dealer’s Diary
The Federal Reserve's decision on Tuesday, August 9, 2011, to keep US interest
rates ultra-low for two more years raised expectations of increased fund inflows
into high-yielding emerging markets such as India. Those expectations triggered
a rebound in battered Indian shares. The barometer index BSE Sensex regained
the psychological 17,000 mark. The rebound was quite broad-based as
indicated by the strong market breadth. Eleven out of 13 sectoral indices on BSE
were in green. Auto stocks gained on optimism of the recent fall in global
commodity prices boosting profitability. The Sensex and Nifty closed with gains
of 1.6% and 1.7%, respectively. The mid-cap and small-cap indices also closed
with gains of 2.3% and 2.5%, respectively. Among the front runners, Tata
Motors, Maruti Suzuki, Hindalco Industries, M&M and DLF gained 4-6%, while
ONGC, ITC, HUL, Sun Pharma and Tata Power lost 1-2%. Among mid caps,
Page Industries, Monsanto India, RCF, TTK Prestige and India Securities gained
11-20%, while KGN Industries, Polaris Software, GE Shipping, MindTree and
Bajaj Electrical lost 3-5%.
Markets Today
The trend deciding level for the day is 17,136/5,161 levels. If NIFTY trades
above this level during the first half-an-hour of trade then we may witness a
further rally up to 17,250–17,370/5,198–5,235 levels. However, if NIFTY
trades below 17,136/5,161 levels for the first half-an-hour of trade then it may
correct up to 17,016–16,902/5,124–5,086 levels
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
Dealer’s Diary
The Federal Reserve's decision on Tuesday, August 9, 2011, to keep US interest
rates ultra-low for two more years raised expectations of increased fund inflows
into high-yielding emerging markets such as India. Those expectations triggered
a rebound in battered Indian shares. The barometer index BSE Sensex regained
the psychological 17,000 mark. The rebound was quite broad-based as
indicated by the strong market breadth. Eleven out of 13 sectoral indices on BSE
were in green. Auto stocks gained on optimism of the recent fall in global
commodity prices boosting profitability. The Sensex and Nifty closed with gains
of 1.6% and 1.7%, respectively. The mid-cap and small-cap indices also closed
with gains of 2.3% and 2.5%, respectively. Among the front runners, Tata
Motors, Maruti Suzuki, Hindalco Industries, M&M and DLF gained 4-6%, while
ONGC, ITC, HUL, Sun Pharma and Tata Power lost 1-2%. Among mid caps,
Page Industries, Monsanto India, RCF, TTK Prestige and India Securities gained
11-20%, while KGN Industries, Polaris Software, GE Shipping, MindTree and
Bajaj Electrical lost 3-5%.
Markets Today
The trend deciding level for the day is 17,136/5,161 levels. If NIFTY trades
above this level during the first half-an-hour of trade then we may witness a
further rally up to 17,250–17,370/5,198–5,235 levels. However, if NIFTY
trades below 17,136/5,161 levels for the first half-an-hour of trade then it may
correct up to 17,016–16,902/5,124–5,086 levels
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