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Dealer’s Diary
The market edged lower in early trade on weak Asian shares. A bout of volatility
was witnessed in mid-morning trade as the Sensex cut losses soon after a
sudden slide. The market extended losses to hit fresh intraday low in early
afternoon trade. Bank stocks declined on concerns that higher interest rates
may crimp loan growth. Software pivotals were under pressure on concerns that
a likely economic slowdown in the US and Europe will hit technology spending
by overseas clients. A bout of volatility was witnessed as the market weakened
once again after trimming losses in afternoon trade. The market extended
losses in mid-afternoon trade. The market slumped in late trade. The Sensex
and Nifty closed with gains of 0.7% and 0.4%, respectively. However, the
mid-cap and small-cap indices ended with losses of 0.9% and 1.6%,
respectively. Among the front runners, DLF, Hero Motoco, Hindustan Unilever
and Jaiprakash Asso. gained 1–3%, while ICICI Bank, Wipro, SBI, Sterlite Inds
and TCS lost 4–5%. Among mid caps, Kwality Dairy, Network18 Media, GTL,
Usha Martin and India Sec gained 3–8%, while S Kumar Nation, Arvind, HCL
Infosystems, Educomp Sol and Alok Inds lost 9–10%.
Markets Today
The trend deciding level for the day is 16,607/4,985 levels. If NIFTY trades
above this level during the first half-an-hour of trade then we may witness a
further rally up to 16,780 – 17,090/5,038 – 5,131 levels. However, if NIFTY
trades below 16,607/4,985 levels for the first half-an-hour of trade then it may
correct up to 16,296 – 16,123/4,891 – 4,839 levels.
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
Dealer’s Diary
The market edged lower in early trade on weak Asian shares. A bout of volatility
was witnessed in mid-morning trade as the Sensex cut losses soon after a
sudden slide. The market extended losses to hit fresh intraday low in early
afternoon trade. Bank stocks declined on concerns that higher interest rates
may crimp loan growth. Software pivotals were under pressure on concerns that
a likely economic slowdown in the US and Europe will hit technology spending
by overseas clients. A bout of volatility was witnessed as the market weakened
once again after trimming losses in afternoon trade. The market extended
losses in mid-afternoon trade. The market slumped in late trade. The Sensex
and Nifty closed with gains of 0.7% and 0.4%, respectively. However, the
mid-cap and small-cap indices ended with losses of 0.9% and 1.6%,
respectively. Among the front runners, DLF, Hero Motoco, Hindustan Unilever
and Jaiprakash Asso. gained 1–3%, while ICICI Bank, Wipro, SBI, Sterlite Inds
and TCS lost 4–5%. Among mid caps, Kwality Dairy, Network18 Media, GTL,
Usha Martin and India Sec gained 3–8%, while S Kumar Nation, Arvind, HCL
Infosystems, Educomp Sol and Alok Inds lost 9–10%.
Markets Today
The trend deciding level for the day is 16,607/4,985 levels. If NIFTY trades
above this level during the first half-an-hour of trade then we may witness a
further rally up to 16,780 – 17,090/5,038 – 5,131 levels. However, if NIFTY
trades below 16,607/4,985 levels for the first half-an-hour of trade then it may
correct up to 16,296 – 16,123/4,891 – 4,839 levels.
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