Market Commentary:
Ø Asian stocks and emerging-market currencies rose as a decline in oil eased concern that inflation pressure will derail economic stimulus policies.
Ø Back home, sentiments turned bullish in the morning trade. The Sensex showed nice rebound, gaining nearly 300 points now on the back of support from every sector except technology.
Ø The overall market breadth has made a strong start. The broader indices were outperforming benchmarks.
Ø Anil Dhirubhai Ambani group' stocks topped the buying list among Nifty 50 stocks. Reliance Infrastucture shot up 8%; Reliance Communications was up 6.4% and Reliance Power gained 5%.
Ø The rupee appreciated by 5 paise to trade at Rs 49.17 per dollar today on increased foreign capital inflows.
Ø For Nifty Mar Futs, we expect upside to be capped at 5475-5495.
* INDICES: Sensex +290 at 17736 (1.66%), NIFTY +92 at 5373 (1.74%), CNXMIDCAP +210 at 7562 (2.86%)
* SECTORAL PERFORMANCE: BANKEX 3.29%, AUTO 2.92%, CAPITAL GOODS 2.75%, HEALTHCARE 1.21%, Metal 3.21%, OIL & GAS 1.39%, IT 0.25%, FMCG 0.02%, PSU 2.47%, REALTY 4.34%, Consumer Durables 3.22%, POWER 3.07%
* MARKET BREADTH: 462 Advances, 37 Declines (BSE 500)
* TODAY'S GAINERS: RELI 8.02%, RCOM 6.37%, JPA 6%, RPWR 5.59%, TTMT 5.58%
* TODAY'S LOSERS: TCS -1.77%, BPCL -1.07%, CAIR -0.73%, HCLT -0.66%, ITC -0.57%
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