Market Commentary:
* Asian stocks were mixed on first full trading day of the new year. Metals declined amid concern that Europe’s debt crisis may slow growth. The MSCI Asia Pacific Index advanced 1.1 percent.
* Volatility ruled the roost as key benchmark indices reversed direction to hit fresh intraday lows after surging to hit their highest level in more than one week in morning trade. The Nifty was trading in a narrow range of 4740-4780 as there has been two way move since the beginning of trade today. But shares of public sector undertakings shot up ahead of a Cabinet meeting to discuss the government's divestment policy.
* Shares of two-wheeler companies Bajaj Auto and Hero Motocorp declined 3-4% after December sales numbers. M&M lost over 2%.
*However, broader indices continue to out perform benchmark and the overall market breadth on BSE is in the favour of advances which have thrashed declines in the ratio of 1425:667.
* The rupee pulled back from the highs touched in early trade on Wednesday as choppy domestic shares and dollar demand from oil importers weighed. Rupee was at 53.15 to the dollar, 0.1 percent stronger than Tuesday's close, after touching a high of 53.10.
* For nifty, Intra-daty support remains at 4680 while on upside Nifty can face resistance at 4780.
* INDICES: Sensex -70 at 15869 (-0.44%), NIFTY -22 at 4744 (-0.45%), CNXMIDCAP +6 at 6266 (0.1%)
* SECTORAL PERFORMANCE: BANKEX -0.05%, AUTO -1.45%, CAPITAL GOODS 0.51%, HEALTHCARE 0.37%, Metal 0.2%, OIL & GAS -0.22%, IT -0.6%, FMCG -0.33%, PSU 1.36%, REALTY -0.49%, Consumer Durables -0.51%, POWER 0.27%
* MARKET BREADTH: 261 Advances, 232 Declines (BSE 500)
* TODAY'S GAINERS: HCLT 4.28%, IDFC 2.12%, SAIL 2.09%, BHEL 2%, ICICIBC 1.86%
* TODAY'S LOSERS: BJAUT -4.4%, ACC -2.96%, MM -2.79%, ACEM -2.74%, HMCL -2.65%
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