Dealer’s Diary
The benchmark indices edged higher after moving between the positive and negative terrain in late trade, as the Finance Ministry's Economic Survey for 2009-2010 predicted that India would bounce back to a high 9% growth in 2011-12. In morning trade, the Sensex pared its gains, after a firm start on weak global cues and lower US index futures capped the recovery. Auto stocks were mixed, while capital goods and realty stocks rose. The intraday recovery gathered steam in late trade. Both the BSE Sensex and the NSE Nifty closed flat. The BSE Mid-cap and Small-cap indices closed in the red, down by 0.4% and 0.2%, respectively.
The trend deciding level for the day is 16250/4859 levels. NIFTY trades above this level during the first half-an-hour of trade then we may witness a further rally up to 16333–16412/4881–4903 levels. However, if NIFTY trades below 16250/4859 levels for the first half-an-hour of trade then it may correct up to 167171–16088/4837–4814 levels.
Economic and Political News
Core industries grow 9.4%; all 6 sectors shine
Food inflation at 17.6% yoy on Feb 13
Government okays Rs10Kcr highway projects in J&K and Karnataka
Corporate News
Sterlite Industries starts takeover tussle for Asarco
ICICI hikes long-term deposit rates by 25-50bp
Reliance Cap raises stake in Fame by 1.7%
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