Market Commentary:
Ø Asian stocks fell, paring a record 10th weekly gain, and South Korea’s won weakened on concern rising energy costs will hurt economic growth. Oil declined for the first time in eight days.
Ø The Indian equity markets have made the positive start but, slipped into the red as participants engaged in profit-booking amid concerns that rising crude prices in global markets could revive inflation worries.Rate sensitives, capital goods and metals stocks were reeling under pressure. Index heavyweights Reliance and Infosys too were down. Nifty was trading near 5350 level.
Ø Sesa Goa and Sterlite Industries declined while Cairn India rose after Vedanta Resources Plc group on Saturday, 25 February 2012, announced the merger of its Indian subsidiaries.
Ø The overall market breadth has made a negative start. The broader indices too were bleeding badly.
Ø The rupee opened weaker on Monday as higher global oil prices bolstered demand for dollars from refiners. The rupee was at 48.97 to the dollar.
Ø From Intra-day perspective, in our view Nifty is trading very close to its support at 5390-80 level. On the upside, it can face resistance at 5450-60 level.
* INDICES: Sensex -230 at 17694 (-1.28%), NIFTY -76 at 5353 (-1.4%), CNXMIDCAP -174 at 7415 (-2.29%)
* SECTORAL PERFORMANCE: BANKEX -2.32%, AUTO -1.85%, CAPITAL GOODS -3.57%, HEALTHCARE -0.14%, Metal -3.36%, OIL & GAS -0.59%, IT -0.59%, FMCG 0.88%, PSU -1.92%, REALTY -4.13%, Consumer Durables -1.53%, POWER -3.13%
* MARKET BREADTH: 80 Advances, 418 Declines (BSE 500)
* TODAY'S GAINERS: CIPLA 1.69%, BPCL 1.58%, ITC 1.22%, BHARTI 0.8%, HUVR 0.76%
* TODAY'S LOSERS: SESA -9.62%, IDFC -4.83%, BHEL -4.82%, JSP -4.44%, HNDL -4.26%
regards
No comments:
Post a Comment