Dealer’s Diary
Key benchmark indices closed almost flat after moving between positive and negative zone in intraday trade. A bout of volatility was witnessed in the morning trade as the Sensex regained positive zone after slipping into the red. The Sensex struck a fresh 25-month high in mid-afternoon trade, coming at a striking distance of the psychological 18,000 mark. The market pared gains in late trade. Telecom and infrastructure shares gained on fresh buying. Banking shares saw mixed trend. Auto stocks declined on profit booking after the recent gains which came at the back of robust March 2010 sales figures. The Sensex and Nifty ended the session flat, while BSE Mid-cap and Small-cap indices outperformed the benchmark indices to end the trading session higher by 0.7% and 0.5% respectively. Among the front-liners, BHEL, RCom, DLF, Reliance Infrastructure and ICICI Bank were up by 1-3%, while M&M, Maruti Suzuki, Jaiprakash Associates, Hindalco and ONGC were down by 1-2%. In the Midcap segment, Essar Shipping Ports, HSBC Invest Direct, Great Eastern Shipping, IOB and Allahabad Bank were up by 5-12%, while REI Six Ten Retail, Indiabulls Power, Sterlite Technology, Info Edge India and Deccan Chronicle were down by 2-4%.
The trend deciding level for the day is 17944/5369 levels. NIFTY trades above this level during the first half-an-hour of trade then we may witness a further rally up to 17989–18037/5386–5406 levels. However, if NIFTY trades below 17944/5369 levels for the first half-an-hour of trade then it may correct up to 17896–17850/5349–5332 levels.
Economic and Political News
• NPCIL—NTPC to build two 700MW n-power plants: DAE secy
• RBI asks banks to extend debt relief benefits till June-end
• PE deals rises 19% to US $2bn in 1QCY2010
Corporate News
• Suzlon bags 18MW wind energy project from GSFC
• Jindal Power ties up Rs10,057cr loan for 2,400MW unit
• Indusind Bank raises Rs420cr through Bonds
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