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Dealer’s Diary
The key benchmark indices extended last week's steep losses at the onset of
the new trading week on concerns about the global economic outlook.
Weakness in Asian markets, triggered by reports that fresh aid for Greece
may take longer than expected, dragged the stocks to their one-month lows.
The market breadth lingered in the negative zone during the morning session
and deepened, after it passed well below the psychological 16,000 mark.
Index heavyweights L&T, Hindalco and Sterlite touched their 52-week lows.
During the afternoon session, the Sensex regained 16,000 in choppy trade. It
slowly recovered the lost ground and peeped above the base line just to
retreat. Concerns on global outlook shadowed the gains and once again
pulled back the indices. The Sensex and Nifty closed down by 0.7% each.
The mid-cap and small-cap indices also lost 1.5% and 1.7%, respectively.
Among the front runners, JP Associates, Bharti Airtel, ICICI Bank, DLF and
Cipla gained 1-2%, while Coal India, Sterlite, Hindalco, Hero MotorCorp
and Jindal Steel lost 3-5%. Among mid caps, Hathway Cables, Kirloskar Oil
Engines, KGN Inds, ABG Shipyard and Himadri Chemicals gained 4-8%,
while Shree global Tradefin., Hindustan Oil Exploration Company, NCC,
CIFC Ltd. and Jain Irrigation lost 6-10%.
Markets Today
The trend deciding level for the day is 16,020 / 4,825 levels. If NIFTY trades
above this level during the first half-an-hour of trade then we may witness a
further rally up to 16,240 – 16,429 / 4,891 – 4,946 levels. However, if
NIFTY trades below 16,020 / 4,825 levels levels for the first half-an-hour of
trade then it may correct up to 15,832 – 15,612 / 4,770 – 4,704 levels.
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� �
Dealer’s Diary
The key benchmark indices extended last week's steep losses at the onset of
the new trading week on concerns about the global economic outlook.
Weakness in Asian markets, triggered by reports that fresh aid for Greece
may take longer than expected, dragged the stocks to their one-month lows.
The market breadth lingered in the negative zone during the morning session
and deepened, after it passed well below the psychological 16,000 mark.
Index heavyweights L&T, Hindalco and Sterlite touched their 52-week lows.
During the afternoon session, the Sensex regained 16,000 in choppy trade. It
slowly recovered the lost ground and peeped above the base line just to
retreat. Concerns on global outlook shadowed the gains and once again
pulled back the indices. The Sensex and Nifty closed down by 0.7% each.
The mid-cap and small-cap indices also lost 1.5% and 1.7%, respectively.
Among the front runners, JP Associates, Bharti Airtel, ICICI Bank, DLF and
Cipla gained 1-2%, while Coal India, Sterlite, Hindalco, Hero MotorCorp
and Jindal Steel lost 3-5%. Among mid caps, Hathway Cables, Kirloskar Oil
Engines, KGN Inds, ABG Shipyard and Himadri Chemicals gained 4-8%,
while Shree global Tradefin., Hindustan Oil Exploration Company, NCC,
CIFC Ltd. and Jain Irrigation lost 6-10%.
Markets Today
The trend deciding level for the day is 16,020 / 4,825 levels. If NIFTY trades
above this level during the first half-an-hour of trade then we may witness a
further rally up to 16,240 – 16,429 / 4,891 – 4,946 levels. However, if
NIFTY trades below 16,020 / 4,825 levels levels for the first half-an-hour of
trade then it may correct up to 15,832 – 15,612 / 4,770 – 4,704 levels.
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