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Dealer’s Diary
The key benchmark indices opened on a weak note tracing weak Asian
stocks. Volatility ruled the roost as the key benchmark indices weakened and
hit fresh 3-1/2-week lows in mid-morning trade. In addition to global
concerns, fears of expected weak 2QFY2012 corporate earnings as well as
FII outflows also weighed on investor sentiments. The overall market breath
remained weak. The indices continued their downward stride until the
afternoon session, post which it reversed direction and ascended on firm
opening of European markets. The indices turned positive for a brief period
in mid-afternoon trade. Nonetheless, the recovery was short-sighted and
mounting prospect of a global recession drove a broad-based sell-off. The
Sensex and Nifty closed down by 1.2% and 1.1%, respectively. The mid-cap
and small-cap indices also lost 0.8% and 1.1%, respectively. Among the front
runners Cipla, Tata Power, SBI, Bharti Airtel and JP Associates gained 0.7-
2%, while Tata Motors, Hindalco, HDFC Bank, HDFC and L&T lost 3-5%.
Among mid caps, HCL Infosystems, Kirloskar Oil Engines, Shree Global
Tradefin, KGN Ind. and Opto Circuits gained 4-6%, while Jain Irrigation,
Prism Cement, Chambal Fertilisers, IL&FS Transportation and SKS
Microfinance lost 5-8%.
Markets Today
The trend deciding level for the day is 16,194 / 4,876 levels. If NIFTY trades
above this level during the first half-an-hour of trade then we may witness a
further rally up to 16,336 – 16,510 / 4,922 – 4,977 levels. However, if
NIFTY trades below 16,194 / 4,876 levels levels for the first half-an-hour of
trade then it may correct up to 16,020 – 15,878 / 4,821 – 4,775 levels
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
Dealer’s Diary
The key benchmark indices opened on a weak note tracing weak Asian
stocks. Volatility ruled the roost as the key benchmark indices weakened and
hit fresh 3-1/2-week lows in mid-morning trade. In addition to global
concerns, fears of expected weak 2QFY2012 corporate earnings as well as
FII outflows also weighed on investor sentiments. The overall market breath
remained weak. The indices continued their downward stride until the
afternoon session, post which it reversed direction and ascended on firm
opening of European markets. The indices turned positive for a brief period
in mid-afternoon trade. Nonetheless, the recovery was short-sighted and
mounting prospect of a global recession drove a broad-based sell-off. The
Sensex and Nifty closed down by 1.2% and 1.1%, respectively. The mid-cap
and small-cap indices also lost 0.8% and 1.1%, respectively. Among the front
runners Cipla, Tata Power, SBI, Bharti Airtel and JP Associates gained 0.7-
2%, while Tata Motors, Hindalco, HDFC Bank, HDFC and L&T lost 3-5%.
Among mid caps, HCL Infosystems, Kirloskar Oil Engines, Shree Global
Tradefin, KGN Ind. and Opto Circuits gained 4-6%, while Jain Irrigation,
Prism Cement, Chambal Fertilisers, IL&FS Transportation and SKS
Microfinance lost 5-8%.
Markets Today
The trend deciding level for the day is 16,194 / 4,876 levels. If NIFTY trades
above this level during the first half-an-hour of trade then we may witness a
further rally up to 16,336 – 16,510 / 4,922 – 4,977 levels. However, if
NIFTY trades below 16,194 / 4,876 levels levels for the first half-an-hour of
trade then it may correct up to 16,020 – 15,878 / 4,821 – 4,775 levels
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