Dealer’s Diary

The market on Thursday oscillated between positive and negative territory due to lack of strong participation from market players ahead of the industrial production and inflation (IIP) data on Friday, April 11, 2008. The Sensex and Nifty ended with losses of around 1% and 0.3%, respectively. The BSE Bankex and BSE Tech witnessed a major loss of  3% and 1% respectively, among the Sectoral indices. Oil & Gas stocks were the star performers of the session. IT stocks slipped due to profit booking after an early surge. Mid and Small-caps outperformed the frontliners. Key indices in China, Hong Kong, South Korea and Taiwan were up between 0.6 -1.9%. However, indices in Japan and Singapore  were down between 0.7 -1.3% in the wake of a fall in February core machinery orders. Among the frontliners, Ambuja Cement, L&T, Reliance, TCS and Reliance Energy gained 1.5-6.5%, while Bharti Airtel, Jaiprakash Associates, HDFC Bank, Ranbaxy and ICICI lost ground by 2.5-4.5%. In the Mid-cap segment, Gujarat Alkali, Motilal Oswal, Bhushan Steel and GVK Power Infra gained 6-11%, whereas Ahluwalia Co, IL&FS, Peninsula Land, Blue Star lost 4-5%.

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