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Morning Notes 13.05.2010
in late trade as
US index futures fell. Interest rate sensitive banking and realty stocks rose as lower-than-
expected growth in industrial production in March 2010 helped ease rate-hike worries.
Index heavyweight Reliance Industries (RIL) edged higher. Telecom stocks extended losses
for the second straight day after the telecom regulator suggested telecom firms to pay a one-
time fee for holding radio-spectrum beyond 6.2 mega hertz (MHz) based on 3G prices. Bharti
Airtel was down close to 8%. Two-wheeler major Bajaj Auto rose, reversing initial losses
after robust Q4 results. Volatility was immense. The market pared gains after a firm start.
The market soon regained strength with the Sensex hitting a fresh intraday high in early
trade. The market once again came off the higher level later. The Sensex slipped into the red
in morning trade. The market hovered between the positive and negative terrain in mid-
morning trade. The market hit a fresh intraday low in afternoon trade weighed by data
showing lower-than-expected growth in industrial production in March 2010. The market
surged to a fresh intraday high in mid-afternoon trade as European stocks rose. The market
pared gains in late trade as US index futures fell in volatile trade.
or 0.23% to
17,180.11. The Sensex fell 113.45 points at the day's low of 17,028.08 in early afternoon trade.
The index rose 110.99 points at the day's high of 17,252.52 in mid-afternoon trade. The S&P
CNX Nifty was up 17