Dealer’s Diary
The benchmark indices ended with small losses after witnessing intraday volatility. Fears of a rise in interest rates following the rise in food inflation weighed on investor sentiment. Weak global cues played the spoilsport, after strong gains on the domestic bourses over the past three trading session. The Sensex and the Nifty closed marginally in the red, down by 0.2% each. The BSE Mid-cap and Small-cap indices outperformed the benchmark indices and closed in the green with gains of 0.8% each. Among the front-liners, RCom, DLF, Reliance Infra, HUL and Tata Steel were up by 1-2%, while Infosys, Maruti Suzuki, ICICI Bank, Hindalco and JP Associates were down by about 1%. In the mid-cap segment, UB Holdings, MRF, Coromandel International, 3M India and Apollo Tyres were up by 6-12%, while Amtek Auto, Indusind Bank, Indiabulls Financial Services, Oriental Bank of Commerce and Indiabulls Power were down by 3-7%.
Markets Today
The trend deciding level for the day is 16962/5075 levels. NIFTY trades above this level during the first half-an-hour of trade then we may witness a further rally up to 17035–17098/5102–5123 levels. However, if NIFTY trades below 16962/5075 levels for the first half-an-hour of trade then it may correct up to 16898–16825/5054–5027 levels.
Economic and Political News
More than Rs25,000cr from disinvestment this year
Direct tax kitty swells 7.5% till Feb
NHAI to raise funds from market to build 14,000 km in 2010-11
Govt. okays FDI plan of India Infra Development Fund
Corporate News
Tata motors, Nano vendors not giving up Singur land
Essar Oil plans Rs4,000cr investment for CBM blocks
Ashok Leyland to invest Rs3,000cr in various projects
Strides acquires Aspen's unit in Brazil for US $75mn
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