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Dealer’s Diary
The key benchmark indices regained strength in late trade as index pivotals
extended gains in volatile trade. Volatility ruled the roost as Indian bourses
outperformed global peers, which were subdued as caution prevailed ahead of
the release of key US jobs data later in the day. The market breadth was
strong. Index heavyweight Reliance Industries (RIL) advanced for the third
straight session of trade. Realty major DLF reversed initial losses in volatile
trade to log steep gains. Most auto stocks rose in reaction to higher August
2011 monthly sales. Domestic markets logged gains for the third running day
as they played a catch-up with global peers as they reopened after a two-day
closure on account of local holidays. Resumption of buying by foreign funds
also boosted sentiment. The Sensex and Nifty closed with gains of 0.9% and
0.8%, respectively. The mid-cap index logged gains of 0.8%, however the
small-cap index closed flat. Among the front runners, DLF, Tata Steel, Sterlite
Industries, M&M and Bajaj Auto gained 3-6%, while Tata Power, TCS, BHEL,
NTPC and Infosys lost 1-2%. Among mid caps, Manappuram Finance, VIP
Industries, Parsvnath Developers, Cox & Kings and Chambal Fertilisers gained
6-11%, while DB Corp., Electrosteel Steels, KGN Industries, SREI Infra and
Bajaj Electricals lost 4-5%.
Markets Today
The trend deciding level for the day is 16,833/5,049 levels. If NIFTY trades
above this level during the first half-an-hour of trade then we may witness a
further rally up to 16,978–17,135/5,105–5,169 levels. However, if NIFTY
trades below 16,833/5,049 levels for the first half-an-hour of trade then it may
correct up to 16,676–16,531/4,984–4,929 levels.
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
Dealer’s Diary
The key benchmark indices regained strength in late trade as index pivotals
extended gains in volatile trade. Volatility ruled the roost as Indian bourses
outperformed global peers, which were subdued as caution prevailed ahead of
the release of key US jobs data later in the day. The market breadth was
strong. Index heavyweight Reliance Industries (RIL) advanced for the third
straight session of trade. Realty major DLF reversed initial losses in volatile
trade to log steep gains. Most auto stocks rose in reaction to higher August
2011 monthly sales. Domestic markets logged gains for the third running day
as they played a catch-up with global peers as they reopened after a two-day
closure on account of local holidays. Resumption of buying by foreign funds
also boosted sentiment. The Sensex and Nifty closed with gains of 0.9% and
0.8%, respectively. The mid-cap index logged gains of 0.8%, however the
small-cap index closed flat. Among the front runners, DLF, Tata Steel, Sterlite
Industries, M&M and Bajaj Auto gained 3-6%, while Tata Power, TCS, BHEL,
NTPC and Infosys lost 1-2%. Among mid caps, Manappuram Finance, VIP
Industries, Parsvnath Developers, Cox & Kings and Chambal Fertilisers gained
6-11%, while DB Corp., Electrosteel Steels, KGN Industries, SREI Infra and
Bajaj Electricals lost 4-5%.
Markets Today
The trend deciding level for the day is 16,833/5,049 levels. If NIFTY trades
above this level during the first half-an-hour of trade then we may witness a
further rally up to 16,978–17,135/5,105–5,169 levels. However, if NIFTY
trades below 16,833/5,049 levels for the first half-an-hour of trade then it may
correct up to 16,676–16,531/4,984–4,929 levels.
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