Mid Market Wrap

Market Commentary:

* Quite a few important Asian markets are shut today also on account of the Chinese New Year.Those Opened are trading in positive territory.

* Back home, Key benchmark indices surged to hit fresh highest level in nearly seven weeks in mid-morning trade after the Reserve Bank of India (RBI) in its Third Quarter Review of Monetary Policy today left interest rates on hold but cut the cash reserve ratio for banks by 50 basis points. Nifty Index hit 5100 and is trading strong above it.

* Rate sensitive’s gained strength post this policy announcement. Shares of country's largest PSU banks SBI & PNB surged by 4% while private banks also gained by 3%.

* The market breadth, indicating the overall health of the market, was positive.

* The rupee strengthened past 50 to the dollar for the first time in 10 weeks today, aided by foreign fund inflows into local stocks and debt.

* From Intra-day perspective, Nifty may find resistance at 5140-50 level while immediate support rests at 5080.

* INDICES: Sensex +232 at 16984 (1.39%), NIFTY +74 at 5121 (1.47%), CNXMIDCAP +104 at 6938 (1.52%)

* SECTORAL PERFORMANCE: BANKEX 3.09%, AUTO 0.87%, CAPITAL GOODS 2.78%, HEALTHCARE 0.64%, Metal 1.9%, OIL & GAS 0.96%, IT 0.76%, FMCG 0.18%, PSU 1.39%, REALTY 2.75%, Consumer Durables 1.11%, POWER 0.79%

* MARKET BREADTH: 382 Advances, 109 Declines (BSE 500)

* TODAY'S GAINERS: PNB 4.71%, LT 4.71%, SBIN 4.3%, HNDL 4.3%, IDFC 3.73%

* TODAY'S LOSERS: MSIL -1.56%, PWGR -0.5%, BJAUT -0.35%, GAIL -0.19%, DRRD -0.05%