Dealer’s Diary
The Indian indices opened marginally positive but maintained a trend of directionless trade, as they gyrated in a narrow band for most of the session. Volatility ruled the roost until mid-session, as the markets traded with minor, updown swings, although they sustained in the green. The markets slipped in the red in the final session, but a sharp recovery, led by benchmark heavyweight Reliance Industries, helped the indices close at their day’s highs. Both the Sensex and the Nifty gained 0.3% each, while the BSE Mid-cap and Small-cap indices registered gains of 0.1% and 0.4%, respectively. Among the front-liners, Bharti Airtel, RCom, Hero Honda, SBI and HUL were up by 1-4%, while HDFC, DLF, M&M, TCS, and ICICI Bank were down by 1-2%. In the mid-cap segment, Kirloskar Oil, United Breweries Holding, HSBC Investdirect, Deccan Chronicle and Apollo Tyres were up by 5-8%, while Motilal Oswal, Novartis, Carborundum, REI Six Ten Retail and IBREL were down by 3-5%.
The trend deciding level for the day is 17560/5257 levels. NIFTY trades above this level during the first half-an-hour of trade then we may witness a further rally up to 17619–17659/5276–5289 levels. However, if NIFTY trades below 17560/5257 levels for the first half-an-hour of trade then it may correct up to 17520–17462/5243–5224 levels.
Economic and Political News
• ONGC, partners bag 17 blocks under NELP-VIII
• NHAI raises net worth criteria for large projects
• World Bank gives US $1.05bn loan for education sector
• Oil ministry wants market-linked prices
Corporate News
• Bajaj Holdings raises stake in Bajaj Electricals
• Amtek Metal in pact with state for Rs15,820cr auto park project
• Vishal lenders near agreement on restructuring
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