Mid Market Wrap

Market Commentary:

Ø The Indian benchmarks have made a lackluster opening and trading flat following mixed global cues. The US markets snapped their gaining streak on Friday as sentiments remained pressured by weak US consumers’ sentiment reading which declined more than forecasted in February.

Ø However, Asian markets gathered momentum after the Greek Parliament approved a new set of austerity measures that were required by international lenders in exchange for an emergency bailout.

Ø Back home, PSU oil and gas companies were feeling the heat of surging international crude oil prices in the session. Scrips like, BPCL, HPCL and IOC all were trading lower in the trade.

Ø On the sectoral front oil and gas witnessed the maximum gain in trade followed by healthcare and auto while, realty, capital goods and Bankex remained the top losers on the sectoral space. The broader indices were outperforming benchmarks. The market breadth was positive;

Ø According to me as mention in my previous notes the Indian indices may consolidate in medium term.

Ø On the way down 5300 level, may now act as strong positional support for the market.

* INDICES: Sensex -15 at 17734 (-0.09%), NIFTY -7 at 5374 (-0.14%), CNXMIDCAP +8 at 7545 (0.1%)

* SECTORAL PERFORMANCE: BANKEX 0.07%, AUTO 0.39%, CAPITAL GOODS -1.14%, HEALTHCARE 0.57%, Metal -0.26%, OIL & GAS 0.75%, IT -0.62%, FMCG -0.05%, PSU 0%, REALTY -1.2%, Consumer Durables 1.1%, POWER -0.39%

* MARKET BREADTH: 242 Advances, 248 Declines (BSE 500)

* TODAY'S GAINERS: PWGR 2.33%, RELI 2.1%, KMB 2.02%, HMCL 1.93%, Coal 1.67%

* TODAY'S LOSERS: TPWR -3.2%, DLFU -2.84%, WPRO -2.75%, CIPLA -2.07%, LT -1.86%