Market Commentary:
* Asian stocks fell amid speculation that an unexpected expansion in Chinese manufacturing in January reduces the need for more loosening of monetary policy. South Korea’s exports fell for the first time in more than two years and a gauge of Australian house prices plunged by the most on record in 2011.
* Backhome, equity markets have made flat start but, turned choppy as investors booked profits after previous sessions’ rally with HDFC, ICICI Bank and Infosys leading the losses. However, auto stocks and index heavyweight Reliance Industries were supporting the market.
* The overall market breadth has made a positive start with 54.88% stocks advancing against 41.91% declines. Moreover, the broader indices were trading with some traction.
* HDFC fell more than 2% as a number of block deal were executed in the counter on BSE at the onset of the trading session at a discount to Tuesday's closing price of Rs 696.75.
* The rupee fell on Wednesday on weak local shares and weak US housing consumer confidence data. The rupee was at 49.56/57 to the dollar, down from Tuesday's close of 49.44/45.
* For Intra-day, Nifty Index might see support at 5140-50 while on upside it can see resistance at 5200.
* INDICES: Sensex -58 at 17136 (-0.34%), NIFTY -17 at 5182 (-0.33%), CNXMIDCAP +56 at 7156 (0.78%)
* SECTORAL PERFORMANCE: BANKEX -0.85%, AUTO 2.23%, CAPITAL GOODS 0.6%, HEALTHCARE 0.18%, Metal 0.41%, OIL & GAS 0.02%, IT -0.84%, FMCG -0.33%, PSU -0.72%, REALTY -0.65%, Consumer Durables -1.34%, POWER 0.37%
* MARKET BREADTH: 336 Advances, 156 Declines (BSE 500)
* TODAY'S GAINERS: HMCL 3.81%, MM 3.26%, TPWR 2.89%, JSP 2.84%, MSIL 2.46%
* TODAY'S LOSERS: Coal -2.96%, ONGC -2.25%, BPCL -2.18%, ICICIBC -1.98%, HDFC -1.94%
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