Dealer’s Diary
The key benchmark indices recouped a large portion of the previous week’s losses, after the EU announced a rescue package to aid Greece. The market opened the trade on strong sentiments, boosted by the Euro zone’s bailout plan, and continued to trade in a narrow range for the first session. It hit a fresh intraday high in mid-morning trade and extended its gains in afternoon trade. Metal, realty, auto and banking stocks led the rally. The Sensex and Nifty closed up by 3.4% and 3.5%, respectively. The BSE Mid-cap and the Small-cap indices also closed up by 2.4% and 2.8%, respectively. Among the front-liners, Reliance Infra, Tata Steel, Hindalco, Tata Motors and DLF were up by 7-8%, while Cipla and Hero Honda were the only stocks down by 0-6%. In the Mid-cap segment, Bajaj Finserv, Dish TV, IVRCL Infra, IB Real Estate and Tulip Telecom were up by 6-10%, while Dalmia Cement, REI Six Ten Retail, Gillette India, Chambal Fertilizer and GCPL were down by 2-7%.
The trend deciding level for the day is 17162/5141levels. If NIFTY trades above this level during the first half-an-hour of trade then we may witness a further rally up to 17525–17719/5256 – 5318 levels. However, if NIFTY trades below 17162/5141levels for the first half-an-hour of trade then it may correct up to 16698 – 16605/5079 – 4964levels.
Economic and Political News
• Eurozone leaders agree on US $1trn bailout for Greece
• TRAI may waive 3-yr lock-in to ring in consolidation
• FIPB rejects Jaipur IPL’s plan to attract foreign investment
• RBI to sell 35-day cash mgmt bills to raise Rs6,000cr
Corporate News
• Pratibha Industries bags Rs100cr order from Maha. Govt.
• Usha Martin gets board approval for Rs1,200cr capex plans
• Fortis Health sells 6.58% to Singapore’s GIC for Rs380cr
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