Dealer’s Diary
The NSE and the BSE held a special, 90-minute trading session on February 6, 2010, to enable the NSE to test an upgraded trading system. The benchmark indices jumped during this session, tracking a strong intraday rebound of US stocks on the 5th of February. Metal, realty, infrastructure, IT, auto and banking stocks gained. All the sectoral indices on the BSE were in the green. The BSE Sensex and the NSE Nifty surged by 0.8% each. The BSE Mid-cap and Smallcap indices were up by 1.4% and 1.5%, respectively. Among the front-liners, Hindalco, JP Associates, Sterlite, DLF and Infosys were up by 2-2.4%, while Hero Honda and Bharti Airtel were down by 0-0.2%. In the mid cap segment, Asian Star, United Breweries, Info Edge India, Ipca Labs and Infotech Enterprises were down by 2-4%, while Indraprashtha Gas, Gujarat Gas, Spice Comm., Monsanto India, and Eicher Motors were up by 7-12%.
The trend deciding level for the day is 15891/4746 levels. NIFTY trades above this level during the first half-an-hour of trade then we may witness a further rally up to 15975-16035/4779-4801 levels. However, if NIFTY trades below 15891/4746 levels for the first half-an-hour of trade then it may correct up to 15832–15748/4724–4691 levels.
Economic and Political News
• Railway infrastructure projects go off track
• Infra investment doubles to 8% in 5 years: Plan Panel
• Govt. to set up Rs4,000cr international shipyard
Corporate News
• NTPC's Tapovan Vishnugad project hits roadblock
• Pipavav to ramp up headcount by 8,500 in 3 yrs
• Kingfisher Airlines hires US firm to revamp ops
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