Dealer’s Diary
The benchmark indices jumped in early trade on firm Asian stocks. However, the market pared gains in early afternoon trade but buying at lower levels once again propelled stocks higher in afternoon trade. Metal, realty, auto and banking stocks rose. The Sensex hit a fresh intraday high in late trade. The BSE Sensex and NSE Nifty were up by 1.5% each. The BSE Mid-cap and Small-cap indices were up by 0.8% each. Among the front-liners, Hero Honda, Jaiprakash Associates, ICICI Bank, M&M and RIL were up by 3-4%, while Tata Power was down 1%. In the Mid-cap segment Hindustan Oil, Texmaco, Shree Renuka Sugar, Fortis Healthcare and Thomas Cook were up by 6-18%, while Andrew Yule, AIA Engineering, Patni, Apollo Tyres and Alfa Laval were down by 3-4%.
The trend deciding level for the day is 16095/4809 levels. NIFTY trades above this level during the first half-an-hour of trade then we may witness a further rally up to 16261–16369/4861–4896 levels. However, if NIFTY trades below 16095/4809 levels for the first half-an-hour of trade then it may correct up to 15986–15820/4775–4723 levels.
Economic and Political News
Domestic air traffic flies high in Jan; grows 23%
Centre planning to develop 25,000MW of gas fired plants
Environment ministry seeks Rs2,200cr, a 17% hike yoy in forthcoming budget
Corporate News
Tata Motors promoters cut DVR shareholding to 57%
BHEL, L&T among 5 cos eyeing bulk orders from NTPC worth Rs30,000cr
HPCL to invest Rs25,000cr for new refinery in Maharashtra
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