Market Commentary:
Ø Asian stocks rose, heading for a record 11th weekly gain, while the yen weakened and Australian bond risk dropped after U.S. jobless claims matched a four-year low and Europe’s leaders agreed to accelerate payments to a bailout fund.
Ø Backhome, Indian benchmarks fell in early trade after opening higher, with ONGC leading the drop after a muted response to a government stake sale. Key indices recovered from Intra-day lows and trading with modest 0.5-0.6% gain.The NSE Nifty reclaimed 5350 level amid choppy trade, supported by metals, auto, banks, capital goods stocks, and Reliance.
Ø The overall market breadth has made a positive start.The broader indices were outperforming benchmarks.
Ø For Nifty Mar Futs, intra-day resistance can be seen at 5440-50 level while on the downside it can slip upto 5340.
* INDICES: Sensex +87 at 17671 (0.5%), NIFTY +34 at 5374 (0.63%), CNXMIDCAP +58 at 7722 (0.76%)
* SECTORAL PERFORMANCE: BANKEX 2.52%, AUTO 0.16%, CAPITAL GOODS 1.14%, HEALTHCARE 1.43%, Metal 1.2%, OIL & GAS -0.2%, IT -0.02%, FMCG -0.32%, PSU 0.35%, REALTY -1.19%, Consumer Durables 0.57%, POWER 0.95%
* MARKET BREADTH: 357 Advances, 136 Declines (BSE 500)
* TODAY'S GAINERS: AXSB 4.5%, ICICIBC 2.97%, KMB 2.75%, IDFC 2.7%, SBIN 2.57%
* TODAY'S LOSERS: DLFU -4.7%, ONGC -2.13%, BJAUT -1.33%, ITC -0.85%, HUVR -0.63%
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