Dealer’s Diary
The benchmark indices closed with marginal gains after a strong intraday rebound that was triggered by upbeat economic data and higher monthly sales from auto majors. The markets recovered with reports that India's exports rose by 9.3% for the second consecutive month, after 13 straight months of decline. Additionally, India's manufacturing sector grew at its fastest pace in almost one to one-and-a-half years in January 2010. The BSE Sensex closed flat, losing a mere 0.01%, while the NSE Nifty was up by 0.4%. The BSE Mid-cap and Smallcap indices outperformed the benchmark indices, with gains of 1.8% and 2.7%, respectively. Among the front-liners, Tata Motors, Wipro, Grasim, M&M and Sun Pharma were up by 3-4%, while HUL, SBI, HDFC Bank, ITC and NTPC were down by 1-3%. In the mid cap segment, REI Six Ten Retail, Titan, Kalpataru Power, Lupin and Bhushan Steel were up by 10-16%, while Simplex Infra, KGN Inds, Future Capital, Infotech Enterprises and Birla Corp were down by 4-8%.
The trend deciding level for the day is 16313/4882 levels. NIFTY trades above this level during the first half-an-hour of trade then we may witness a further rally up to 16465–16575/4937-4974 levels. However, if NIFTY trades below 16313/4882 levels for the first half-an-hour of trade then it may correct up to 16204-16051/4845-4790 levels.
Economic and Political News
Imports turn positive after 11 months in Dec
Govt. trying not to raise petroleum prices: Deora
DoT meets telcos today on MNP dilemma
Obama sends Congress $ 3.8 trillion budget plan
Plan panel okays Rs 300 cr Rukura irrigation project
Corporate News
Parsvnath Developers to raise Rs 300 cr
Toshiba JSW to invest Rs 800 cr in Chennai plant
RBI says policy change unlikely till April
Citi to plan sale of $ 10 billion private equity unit
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