Dealer’s Diary
The benchmark indices logged marginal gains after swinging sharply in highly volatile trade. IT stocks played the lead role in the recovery; however, metal pivotals remained subdued, as metal prices fell on the LMEX. Telecom stocks advanced on bargain hunting. Rate-sensitive banking shares recovered from the day's low, while auto stocks were mixed. The BSE Sensex and the NSE Nifty rose by a marginal 0.1% each. The BSE Mid-cap and Small-cap indices were down by 0.1% each. Among the front-liners, Bharti Airtel, RCOM, ONGC, HLL and M&M were up by 2-3%, while Tata Steel, Hindalco, Wipro, Jaiprakash Associates and NTPC were down by 1-4%. In the mid-cap segment Chambal Fertilisers, Nagarjuna Fertilisers, Core Projects, Kansai Nerolac, Procter & Gamble were up by 5-7%, while Indraprashtha Gas, Gujarat NRE Coke, Torrent Pharma, Spice Communications and REI Agro, were down by 4-9%.
The trend deciding level for the day is 15883/4745 levels. NIFTY trades above this level during the first half-an-hour of trade then we may witness a further rally up to 16114–16292/4815–4869 levels. However, if NIFTY trades below 15883/4745 levels for the first half-an-hour of trade then it may correct up to 15705–15474/4691–4621 levels.
Economic and Political News
Finance Ministry allows IRFC to issue Rs5,000cr tax free bonds
Bulk drug exports hit by government’s 15% value-addition directive
April’09-Jan’10 Steel consumption up 7.9% yoy
Corporate News
Sadbhav Engineering Bags Order worth Rs137cr
Bajaj Electricals to take controlling stake in Starlite Lighting
GMR plans to raise Rs1,500cr from PE companies
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