Dealer’s Diary
The benchmark indices provisionally closed with marginal gains, after moving in a tight range throughout the day. The market dropped in early trade, tracking weak Asian stocks. Later, as some Asian stocks rebounded, the market recovered and moved in a narrow range in mid-morning trade. However, the market pared its gains after hitting a fresh intraday high in early afternoon trade, but finally regained strength in late trade. The BSE Sensex and NSE Nifty closed in the green, up by 0.3% each. However, the BSE Mid-cap and Smallcap indices closed in the red, down by 0.6% and 0.9%, respectively.
The trend deciding level for the day is 16263/4862 levels. NIFTY trades above this level during the first half-an-hour of trade then we may witness a further rally up to 16348–16409/4892-4913 levels. However, if NIFTY trades below 16263/4862 levels for the first half-an-hour of trade then it may correct up to 16202–16117/4841–4811 levels.
Economic and Political News
India Inc's Jan overseas borrowing down 16% to US $1.31bn
Gems and jewellery exports surge 62% in Jan’10
National Pharmaceuticals Pricing Authority (NPPA) to revise pricing norms
Corporate News
Satyam takes Upaid to court over tax matter
S. Africa coal mine off NTPC agenda
JK Tyre to invest Rs1,600cr in Tamil Nadu
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