Dealer’s Diary
The market breadth was weak, contrasting strong breadth in the opening session of trade. High volatility was the hallmark of the day's trading session. The Sensex and Nifty slipped below the levels of 20,000 and 6,000, respectively, in mid-morning trade, after touching a 32-month peak in opening trade. The key benchmark indices slumped to the day's low in mid-afternoon trade as heavyweights underwent correction following a three-day surge and hit fresh intraday lows in afternoon trade as European stocks fell in early trade. The Sensex and Nifty closed down by 0.3% each. However, BSE mid and small-cap indices closed down by 0.4% and 0.2%, respectively. Among the front liners, Maruti Suzuki, HDFC, SBI, Tata Power and Wipro gained 1–4%, while JP Associates, RCOM, L&T, TCS and Infosys lost 2–3%. Among mid caps, JSL Ltd., Triveni Engg., Punj Lloyd, Hotel Leela, Gammon India and Dalmia Cement gained 5–17%, while Geekay Finance, Jubilant Food Works, Berger Paints and Ispat Industries lost 4–5%.
Markets Today
The trend deciding level for the day is 19950/5992 levels. If NIFTY trades above this level during the first half-an-hour of trade then we may witness a further rally up to 20097–20252/6037–6083 levels. However, if NIFTY trades below 19950 / 5992 levels for the first half-an-hour of trade then it may correct up to 19795 –19649/5946-5901 levels.
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Corporate News
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