Market Commentary:
*Asian stocks fell for the first time in four days, while gold rose as data
showed slowing demand for Japan's exports, European nations prepared to sell
debt and Infosys (INFO) Ltd. cut its sales forecast. Oil advanced on concern
supplies may be limited. The MSCI Asia Pacific Index slid 0.2 percent.
*Back home, Key benchmark indices saw a sharp fall after a intraday recovery
in morning trade. Weakness in Asian stocks weighed on sentiment. IT stocks
tumbled after IT bellwether Infosys issued a muted outlook for Q4 March
2012.
*The industrial output (IIP) for November has made a handsome growth,
swinging a full circle from a negative 4.7% (revised upwards from -5.1%) in
October to 5.9% in November. Market view is that RBI will take comfort from
the industrial output number as it shows growth is shaky but not negative.
That is why we think IIP number failed to cheer the market.
*At noon, India released its Primary Article WPI for week ended on Dec 31
which rose to 0.51% v/s 0.10%. Market saw a sudden fall of 1% after that
number came out.
*The rupee strengthened marginally by 4 paise to Rs 51.86 per dollar
supported by continued foreign fund inflows.
*For nifty we see intra-day support at 4780 while upside can be capped at
4850.
* INDICES: Sensex -169 at 16007 (-1.04%), NIFTY -43 at 4818 (-0.89%),
CNXMIDCAP +7 at 6554 (0.1%)
* SECTORAL PERFORMANCE: BANKEX 0.44%, AUTO -0.18%, CAPITAL GOODS -0.18%,
HEALTHCARE 0.3%, Metal 0.44%, OIL & GAS -0.58%, IT -4.16%, FMCG 0.17%, PSU
0.29%, REALTY -0.37%, Consumer Durables 0.04%, POWER 0.78%
* MARKET BREADTH: 243 Advances, 244 Declines (BSE 500)
* TODAY'S GAINERS: IDFC 2.99%, SIEM 2.9%, PNB 1.76%, RBXY 1.53%, RPWR 1.48%
* TODAY'S LOSERS: INFO -7.33%, TCS -5.15%, WPRO -2.65%, CAIR -2.45%, HCLT
-1.94%
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