Dealer’s Diary

The markets on Thursday opened marginally in the green, went through a brief rally in the mid-session trading, but regressed back to the dotted line by the final trading hour. The Sensex and Nifty ended with a gain of around 1%. Software majors aided the indices, while heavyweights from the auto sector bore the brunt of the selling activity. The BSE IT and Oil &Gas witnessed major gain of 3% and 2% respectively among the other sectoral indices. While the BSE Midcap index ended marginally lower, the BSE Smallcap index closed lower by 1%. Among the frontliners, Infosys, HUL, TCS, Wipro and Satyam gained 2.5-5%, while Grasim, Maruti Suzuki, Reliance Energy, M&M and BHEL lost ground by 2-5%. In the mid-cap segment, S Kumars, Rolta Ind., GVK Power, Amtek Auto and Orchid Chem gained 6.5-10%, whereas Indra Gas, Nagarjuan Construction, Consol Contructions, Yes Bank and Orbit Corp. lost 6-10%.

The trend deciding level for the day is 4781 / 15845. NIFTY trades above this level during the first half-an-hour of trade then we may witness a further rally up to 4824 / 15990. However, if NIFTY trades below 4781 /15845 for the first half-an-hour of trade then it may correct up to 4729 –4686 / 15687 - 15541.Read More

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