Market Commentary:
Ø Asian stocks fell, extending the biggest weekly decline of the year, as a surprise drop in profit at China’s third-largest bank rekindled concern growth will slow in the world’s second-largest economy. Metals rebounded, led by zinc amid tightening supplies.
Ø Back home the key indices were moving in a range as traders resorted to bargain hunting at lower levels after correction in previous session. Indian markets opened rebounded in opening trades after yesterday's sharp decline and the Sensex touched an intra-day high of 17,357 and the Nifty 5,278 so far. The market trimmed gains after that but were trading in green zone. Buying was seen in selected IT and FMCG stocks.
Ø Stocks in Focus:
v Godrej Properties has rallied 8% to Rs 668 after on strong response for institutional placement programme (IPP).
v FMCG major Hindustan Lever was trading at Rs 405.40 up 2.4% from its previous close of Rs 396.05.
v Aviation: Shares of aviation companies such as Jet Airways and SpiceJet are trading higher by 3% each on report that the civil aviation ministry has allowed increasing utilisation of foreign bilateral rights for Indian carriers to 40%
Ø Nifty Mar Futs: we expect Nifty Mar Futs to trade in narrow range 5220-5300 today.
Ø INDICES: Sensex +72 at 17268 (0.42%), NIFTY +18 at 5246 (0.34%), CNXMIDCAP -3 at 7608 (-0.04%)
Ø SECTORAL PERFORMANCE: BANKEX 0.38%, AUTO -0.58%, CAPITAL GOODS 0.13%, HEALTHCARE 0.03%, Metal -1.13%, OIL & GAS 0.32%, IT 0.85%, FMCG 1.43%, PSU -0.28%, REALTY 0.59%, Consumer Durables -0.94%, POWER 0.37%
Ø MARKET BREADTH: 265 Advances, 225 Declines (BSE 500)
Ø TODAY'S GAINERS: HUVR 2.06%, ITC 1.98%, CAIR 1.85%, ACEM 1.43%, TCS 1.35%
Ø TODAY'S LOSERS: MSIL -3.03%, HNDL -2.63%, Coal -2.07%, BJAUT -1.9%, STLT -1.76%
No comments:
Post a Comment