Dealer’s Diary
Political uncertainty weighed on the market sentiments with Samajwadi Party and Rashtriya Janata Dal deciding to withdraw support to the ruling UPA government. Shares of SBI and its associate banks surged after the Finance Minister introduced a bill in the Lok Sabha to allow the bank to raise more capital from the market. The Sensex and the Nifty closed the trading session in green with gains of 0.6% and 0.7% respectively. The BSE Mid-cap and Smallcap indices outperformed the benchmark indices and closed in green with gains of 0.7% and 1.1% respectively. Among the front-liners, M&M, Hero Honda, ITC, ICICI Bank and ACC were up by 2-4%, while Bharti Airtel, HUL, Reliance Infra, Hindalco and Reliance Communication were down by 1-2%. In the Mid-cap segment, Future Capital, Mahindra Holidays, Emami, Bombay Dyeing and State Bank of Bikaner were up by 7-15%, while Britannia, Pipavav Shipyard, Deccan Chronicle, Indiabulls Finance and Oriental Bank were down by 3-7%.
The trend deciding level for the day is 17108/5121 levels. If NIFTY trades above this level during the first half-an-hour of trade then we may witness a further rally up to 17182–17261/5150–5176 levels. However, if NIFTY trades below 17108/5121 levels for the first half-an-hour of trade then it may correct up to 17029–16956/5095–5066 levels.
Economic and Political News
· Govt. to reduce stake in SBI from 59.4% to 51%
· RBI drafting new norms for NBFCs
· Andra Pradesh to get Jute Park, set to attract investments worth Rs500cr
Corporate News
· ICICI bank sells Prabhadevi property for Rs3.7cr
· PE firm Sequoia may pick up 9.4% in CARE
· Daimler looking to exit Tata Motors via market
No comments:
Post a Comment