17th April 2008 Market Outlook BY Angel Broking
Dealer’s Diary
The markets on Wednesday opened positive mainly aided by the global markets. Both the benchmark indices, the Sensex and Nifty ended with gains of around 1% and 0.2%, respectively. Among the sectoral indices, the BSE IT and BSE Tech were the major gainers ending the day 4% and 2%, respectively. Banking and Cement majors meanwhile bore the brunt of the selling activity. The BSE Mid and Small-cap indices were the show stealers as they outperformed the benchmark indices gaining 1.4% and 1.8%, respectively. Among the frontliners, Reliance Hindalco, Reliance Energy, Wipro and Infosys gained 1.5-6%, while NTPC, Tata motors, Jaiprakash Associates, BHEL and Ambuja Cements lost ground by 2-4%. In the Mid-cap segment, Motilal Oswal, Orchid Chem, Onmobile, Usha Martin and Bombay Dyeing gained 10-16.5%, whereas Rajesh Exports, Bilcare, Ruchi Soya, United Breweries and Balaji Telefilms lost 3.5-5.5%.
Markets Today
The trend deciding level for the day is 4904/ 16286 .NIFTY trades above this level during the first half-an-hour of trade then we may witness a further rally upto 4934 – 4982 / 16372 -16501 . However, if NIFTY trades below 4904/ 16286 for the first half-an-hour of trade then it may correct upto 4857 – 4827 /16157 - 16070 Read More
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