Market Commentary:
Ø Asian treasuries fell for a ninth day, while equities and oil rose on speculation the global economy is strengthening. Chinese stocks slide as the nation’s home prices had the worst performance in a year.
Ø Backhome, A bout of volatility witnessed in the early trade on Monday and key benchmarks have started off the week and first day after Budget with decent gains, but immediately wiped out all gains with Nifty dropping below its crucial 5,300 level.
Ø Cement manufacturers such as ACC and Ambuja Cement edged higher in the trade after announcing price hikes of 7-10 rupees for a 50kg bag
Ø The rupee today gained 10 paise to trade at 50.08 against the dollar on hopes of more foreign capital inflows.
Ø For Nifty Mar Futs, we expect it to trade in the range of 5275-5335 for the Day.
Ø INDICES: Sensex -101 at 17365 (-0.58%), NIFTY -29 at 5289 (-0.55%), CNXMIDCAP +1 at 7640 (0.02%)
Ø SECTORAL PERFORMANCE: BANKEX -1.09%, AUTO 0.32%, CAPITAL GOODS -0.72%, HEALTHCARE 0.22%, Metal 0.33%, OIL & GAS -0.87%, IT -1.34%, FMCG 1.38%, PSU -0.56%, REALTY -1.09%, Consumer Durables 0.84%, POWER -0.6%
Ø MARKET BREADTH: 201 Advances, 294 Declines (BSE 500)
Ø TODAY'S GAINERS: STLT 2.37%, MM 2.22%, ITC 2.11%, ACC 2.06%, HUVR 1.7%
Ø TODAY'S LOSERS: TCS -3.94%, IDFC -3.18%, RELI -2.36%, RBXY -1.97%, HDFC -1.95%
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