Dealer’s Diary
The key benchmark indices extended losses for the fifth straight session with weak global cues playing the spoilsport. Further, selling pressure in late trade derailed a sharp pullback on the bourses. High volatility was the hallmark of the day's trading session. The market breadth was negative after a positive start. The BSE Sensex and NSE Nifty were down by 0.5% and 0.6% respectively. The BSE Mid-cap and Small-cap indices were down by 1.3% and 0.9% respectively. Among the front-liners Bharti Airtel, HUL, ITC, L&T and Sun Pharma were up by 1-3%, while M&M, JP Associates, DLF, Tata Steel and Sterlite Industries were down by 2-5%. In the Mid-cap segment, Jai Corp, Infotech Enterprises, National Fertilisers, Bajaj Hindusthan and Jet Airways were up by 4-12%, while Dish TV, Mcleod Russel, Gujarat Flurochem, AIA Engineering and Andrew Yule were down by 6-8%.
Markets Today
The trend deciding level for the day is 16788/5009 levels. NIFTY trades above this level during the first half-an-hour of trade then we may witness a further rally up to 16870–16960/5035 - 5062 levels. However, if NIFTY trades below 16788/5009 levels for the first half-an-hour of trade then it may correct up to 16698–16616/4982–4956 levels.
News Analysis
Crompton Greaves to consider bonus shares
3QFY2010 Result Reviews: Sterlite, Hero Honda, Hindalco, M&M, HCL Tech, Cadila, GCPL, Pantaloon, GSPL, GSK Consumer, Blue Star, India Cements , KEC Int., Jyoti Structures, TV Today
3QFY2010 Result Previews: SAIL, PNB, NALCO, Dabur, Union Bank
Economic and Political News
Centre opposes states’ two rate GST structure
Govt. appends overseas borrowing rules for 3G auction
RBI seen holding rates, raising CRR
India to grow at 9.2% in FY11: CMIE
India-Mexico to discuss FTA feasibility in May
Corporate News
Hotel Leelaventure to raise US $130mn via share sale
Jet to buy 26% stake in JV with Malaysian Airlines
Essar to expand Vadinar refinery to 18mn tonnes
Bajaj Auto gets European patent for ExhausTEC
Videocon to roll out 15 more handsets, eyes 3G phone.
Shree Renuka Sugars board okays 1:1 bonus issue
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