Dealer’s Diary
The market opened on a firm note after a strong debut of Indian travel agency MakeMyTrip on the NASDAQ on Thursday, August 12, 2010. Stocks extended gains as the BSE Sensex hit a fresh intraday high in early afternoon trade. The market came off the higher level, soon after hitting a fresh intraday high in afternoon trade. It further trimmed gains in mid-afternoon trade as index heavyweight Reliance Industries pared gains. The market came off the lower level in late trade. The Sensex and Nifty closed up by 0.5% and 0.7%, respectively. BSE mid-cap and small-cap indices gained marginally by 1.0% and 0.7%, respectively. Among the front liners, SBI, DLF, ITC, Maruti and Jaiprakash Associates gained 1–2%%, while Sterlite, RCOM, Reliance Infrastructure, M&M and Tata Motors declined by 1–4%. Among mid caps, Bombay Dyeing, Jet Air, Info Edge India, Patni Computer and Jai Corp. gained 8–12%, while KGN Industries, Essar Shipping, Edelweiss Cap, Indiabulls Power and Simplex lost 3–12%.
Markets Today
The trend deciding level for the day is 18159/5448 levels. If NIFTY trades above this level during the first half-an-hour of trade then we may witness a further rally up to 18268–18369/5481–5509 levels. However, if NIFTY trades below 18159/5448 levels for the first half-an-hour of trade then it may correct up to 18058–17949/5420–5387 levels.
Economic and Political News
• Coal blocks to private firms through auction; Bill moved in RS
• Liquidity condition in economy easing says Government
• Over Rs12k cr of tax demands locked in court disputes says Pranab
Corporate News
• FIPB clears KKR's investment proposal in Dalmia Cement
• Food processing sector needs Rs1lakh cr investment in 5 yrs: MFPI
• NMDC buys land for Rs14,000cr Chhattisgarh steel project
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