Dealer’s Diary
The benchmark indices opened on a negative note following weak Asian indices, after the US markets closed flat overnight. Though the markets slipped further in the morning session, a sharp recovery ensued in afternoon trade, helping the indices inch higher. However, volatility prevailed, as markets turned weak in the closing session, before gaining marginally, and closed in the red for the day. Capital goods, auto, banking and metal stocks were weak. Oil exploration stocks fell, whereas PSU OMCs rose, as crude oil prices softened after their recent rally. The Sensex and Nifty closed with losses of 0.2% and 0.3%, respectively, while the BSE Mid-cap and Small-cap indices fell by 0.3% and 0.1%, respectively. Among the front-liners, Infosys, TCS, Wipro, Tata Steel and Reliance Infra were up by 1-4%, while Hero Honda, RCom, HDFC, Sterlite and ICICI Bank were down by 2-5%. In the mid-cap segment, Kwality Dairy, 3M India, Phoenix Mills, Indiabulls Financial and Balrampur Chini were up by 3- 5%, while P&G, Gujarat Fluoro, India Cements, Gujarat Gas and IRB Infra were down by 3-4%.
The trend deciding level for the day is 17817/5327 levels. NIFTY trades above this level during the first half-an-hour of trade then we may witness a further rally up to 17898–17974/5352–5382 levels. However, if NIFTY trades below 17817/5327levels for the first half-an-hour of trade then it may correct up to 17741–17660/5298–5272 levels.
Economic and Political News
• Bond yields at 18-month high on tight policy expectations
• Indian economy to accelerate to 8.2%: ADB
• OMCs likely to get the remaining dues of roughly Rs18,000cr next month
Corporate News
• Infosys wins 3-year Microsoft deal
• NTPC, CIL ink deal for Jharkhand power plants
• Shree Ganesh Jewellery bags order worth Rs508cr
• ABB bags Rs63cr power project from HVPNL
No comments:
Post a Comment