Market Commentary:
* Asian stocks rose, heading for the first back-to-back monthly gain since October 2010, after factory output in Japan climbed the most in seven months and Greece’s Prime Minister said debt-swap talks have made progress. Oil and the euro advanced.
* Back home, equity markets have made a firm start led by some bottom fishing after yesterday’s sharp fall of over 100 points. Sustained buying in mostly all the key heavyweights along with broader indices supported Sensex & Nifty to trade comfortably over their crucial 17,000 and 5,100 mark respectively.
The market gains were led by Reliance, SBI and ICICI Bank. Even Infosys, ONGC, Bharti and TCS too were playing supportive role. However, capital goods stocks slipped further.
* The market breadth, indicating the overall health of the market, was strong.
* The rupee rose supported by gains in the BSE Sensex and improved global risk appetite, although dollar demand from oil refiners kept gains under check. The rupee was at 49.67/68 to the dollar, stronger than Monday's close of 49.79/80.
* For Nifty, Intra-day support remains @ 5100 while upside can be capped at 5180.
* INDICES: Sensex +187 at 17051 (1.11%), NIFTY +57 at 5144 (1.12%), CNXMIDCAP +56 at 6996 (0.81%)
* SECTORAL PERFORMANCE: BANKEX 2.11%, AUTO 0.89%, CAPITAL GOODS -0.69%, HEALTHCARE -0.13%, Metal 0.17%, OIL & GAS 1.25%, IT 1.19%, FMCG 1.06%, PSU 0.64%, REALTY 1.15%, Consumer Durables 1.16%, POWER -0.05%
* MARKET BREADTH: 348 Advances, 138 Declines (BSE 500)
* TODAY'S GAINERS: ICICIBC 3.33%, SBIN 3.1%, BJAUT 2.89%, IDFC 2.38%, JSP 2.01%
* TODAY'S LOSERS: SIEM -1.98%, TATA -1.44%, CAIR -1.14%, MSIL -1.09%, LT -0.85%
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