Dealer’s Diary
The key benchmark indices opened on a tentative note, given the mixed signals from the Asian markets in opening trades, but indices extended gains during mid-morning trade. The market held firm in early afternoon trade. Momentum picked up with the positive opening of Europe. Finally in the afternoon session, markets extended gains in late trade due to a positive set of cues from the global front, with the Sensex and Nifty closing up by 0.8% and 0.9%, respectively. BSE mid-cap and small-cap indices performed better, closing up by 1.2% and 1.4%, respectively. Among the front liners, DLF, ICICI, Tata Motors, RCOM and ACC gained between 2-4%, while HDFC Bank, RIL and Cipla declined 0-1%. Among mid caps, Jubiliant FoodWorks, Essar Shipping, Anant Raj, Shobha Developers and Onmobile Global grew 9-12%, while KGN Industries, Britannia, Shree Global Traders, Atlas Copco and Jagran Prakashan lost 2-16%.
The trend deciding level for the day is 18246/547 levels. If NIFTY trades above this level during the first half-an-hour of trade then we may witness a further rally up to 18351–18415/5508–5530 levels. However, if NIFTY trades below 18246/5471 levels for the first half-an-hour of trade then it may correct up to 18182–18076/5449–5412 levels.
Economic and Political News
· Cost of 268 projects overshoots Rs50,000cr due to delay: Govt
· FM not averse to more fiscal, monetary steps to ease inflation
· Home Ministry asks DoT to stop all 3G services
· Lupin sues Ranbaxy in US for patent infringement
· BHEL secures Rs2,525cr order from Abhijeet Infra
· Pride Hotels to invest Rs1,000cr for expansion
· SAIL commissions Rs39cr unit at Salem
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