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Dealer’s Diary
The key benchmark indices edged higher tracing firm Asian stocks. The market
breadth had firmed up following the previous day’s rally. The positive
sentiment was partly supported by the release of quarterly GDP data which was
in line with the street estimates. Indian economy expanded 7.7% in 1QFY2012
from a year earlier, aided by strong growth in the services sector. However,
volatility perched the markets as indices trimmed gains and hit fresh intraday
lows in early afternoon trade. Markets once again gathered steam in the mid
afternoon trade and continued to ascend. ADAG stocks pocketed gains after
being punished previous week. Increased buying was also witnessed in metals
and realty stocks. Sensex heavyweight DLF surged more than 6%. Sensex and
Nifty registered gains of around 1.6% and 1.7% each. The mid-cap and small
cap indices also gained 1.4% and 1.1%, respectively. Among the front runners,
DLF, Jindal Steel, Sun Pharma, Tata Steel, and Hindalco gained 4-6% while
ONGC, ITC, Tata Power, L&T, and Bharti Airtel lost 0.3-4%. Among mid-caps,
State Bank of Mysore, Manappuram Finance, State Bank of Travancore, State
Bank of Bikaner & Jaipur and Bajaj Electricals gained 10-15% while Simplex
Infra., Baja Finserve, SKS microfinance, IFCI and Edelwise lost 3-9%.
Markets Today
The trend deciding level for the day is 16,612 / 4,982 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 – 16,883 / 5,036 – 5,070 levels. However, if NIFTY
trades below 16,612 / 4,982 levels levels for the first half-an-hour of trade
then it may correct up to 16,509 – 16,340 / 4,947 – 4,893 levels.
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
Dealer’s Diary
The key benchmark indices edged higher tracing firm Asian stocks. The market
breadth had firmed up following the previous day’s rally. The positive
sentiment was partly supported by the release of quarterly GDP data which was
in line with the street estimates. Indian economy expanded 7.7% in 1QFY2012
from a year earlier, aided by strong growth in the services sector. However,
volatility perched the markets as indices trimmed gains and hit fresh intraday
lows in early afternoon trade. Markets once again gathered steam in the mid
afternoon trade and continued to ascend. ADAG stocks pocketed gains after
being punished previous week. Increased buying was also witnessed in metals
and realty stocks. Sensex heavyweight DLF surged more than 6%. Sensex and
Nifty registered gains of around 1.6% and 1.7% each. The mid-cap and small
cap indices also gained 1.4% and 1.1%, respectively. Among the front runners,
DLF, Jindal Steel, Sun Pharma, Tata Steel, and Hindalco gained 4-6% while
ONGC, ITC, Tata Power, L&T, and Bharti Airtel lost 0.3-4%. Among mid-caps,
State Bank of Mysore, Manappuram Finance, State Bank of Travancore, State
Bank of Bikaner & Jaipur and Bajaj Electricals gained 10-15% while Simplex
Infra., Baja Finserve, SKS microfinance, IFCI and Edelwise lost 3-9%.
Markets Today
The trend deciding level for the day is 16,612 / 4,982 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 – 16,883 / 5,036 – 5,070 levels. However, if NIFTY
trades below 16,612 / 4,982 levels levels for the first half-an-hour of trade
then it may correct up to 16,509 – 16,340 / 4,947 – 4,893 levels.
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