Dealer’s Diary
The benchmark indices posted small gains as European markets reversed early losses and US index futures rose. The market breadth was weak after a strong start. Auto stocks edged higher on fresh buying. Banking shares were mixed. Telecom pivotals saw a divergent trend, but IT stocks declined on profit taking following recent gains triggered by upbeat US jobs data. The Sensex and the Nifty closed in the green, with gains of 0.3% each. The BSE Mid-cap and Smallcap indices underperformed the benchmark indices and closed with losses of 0.1% and 0.2%, respectively. Among the front-liners, Hero Honda, ACC, RIL, JP Associates and HDFC were up by 1-3%, while NTPC, Maruti Suzuki, Bharti Airtel, Infosys and Sun Pharma were down by 1%. In the Mid-Cap segment, M&M Financial Services, Asian Star, Amtek Auto, BF Utilities and Indusind Bank were up by 5-8%, while Balrampur Chini, Triveni Engineering, Bajaj Hindusthan, Shree Renuka Sugars and Nagarjuna Fertilizers were down by 4-8%.
The trend deciding level for the day is 17103/5115 levels. NIFTY trades above this level during the first half-an-hour of trade then we may witness a further rally up to 17179–17259/5138–5161 levels. However, if NIFTY trades below 17103/5115 levels for the first half-an-hour of trade then it may correct up to 17023–16948/5093–5070 levels.
Economic and Political News
• FDI inflows dip by 25% to US $2.04bn in Jan
• Govt. to collect Rs1,495cr as toll tax in 2009-10
• Govt. has no plans to sell stake in ONGC, IOC: Oil Secy.
Corporate News
• GVK power’s subsidiary bags 690MW project in J&K
• Bosch declares lock-out at Naganathapura plant
• Supreme Infra. bags two orders worth Rs405.4cr
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