Market Commentary
* Asian stocks retreated from a three- month high and the euro weakened before a meeting of Europe’s leaders on the sovereign-debt crisis. Chinese shares slide in the first day of trading after the Lunar New Year holiday.
* Indian equity markets also duplicating the trend of global markets have edged lower after a week’s bull run. The market continues to trade lower, weighed down by capital goods, banks and metals stocks. Individual stocks like Reliance, Infosys, ICICI Bank and Bharti (down 3%) are getting beaten on the bourses today.Profit booking may also have dented the market as it had rallied 3% last week.
* The broader indices turned positive after gap down opening. The overall market breadth on BSE was still in the favour of advances which battered declines in the ratio of 1074:1025.
* Stock of the Day: BHEL tanked 8.6% as its margin declined at 19.37% versus 22.96% YoY due to inflationary pressure and rising competition.
* The rupee eased on Monday as oil import payments picked up and uncertainty about a deal to help debt-ridden Greece drove most Asian equity markets down.
*On currency front the rupee was at 49.47/48 to the dollar, 0.3% weaker than 49.3050/3150 at close on Friday
* For Nifty index, Intra-day support can be seen at 5080 level while on upside, it can see resistance at 5170.
* INDICES: Sensex -225 at 17009 (-1.31%), NIFTY -74 at 5131 (-1.42%), CNXMIDCAP -58 at 7032 (-0.81%)
* SECTORAL PERFORMANCE: BANKEX -1.73%, AUTO -1.3%, CAPITAL GOODS -2.99%, HEALTHCARE -0.06%, Metal -1.05%, OIL & GAS -1.09%, IT -1.02%, FMCG -0.38%, PSU -0.61%, REALTY -0.88%, Consumer Durables -1.29%, POWER -1.58%
* MARKET BREADTH: 167 Advances, 327 Declines (BSE 500)
* TODAY'S GAINERS: RPWR 3.96%, SUNP 2.11%, RCOM 1.09%, JSP 0.96%, GAIL 0.91%
* TODAY'S LOSERS: BHEL -8.42%, STLT -4.39%, JPA -3.53%, BHARTI -3.42%, MM -3.36%
No comments:
Post a Comment