Market Commentary:
Ø Asian stocks fell for a second day and were headed for the first monthly drop since November as U.S. durable-goods orders and earnings trailed estimates. The yen rose, while oil traded near a one-week low.
Ø Backhome, a bout of initial volatility was witnessed as the market recovered soon after a weak opening. The Sensex and the 50-unit S&P CNX Nifty recovered after hitting their lowest level in over 8 weeks. After hitting low of 5139.45, Nifty was able to regain 5150 mark and is trading above that.
Ø Stocks from Information Technology, Technology and Capital Goods counters are leading the BSE sectoral chart from behind. The overall market breadth on BSE is in the favour of declines.
Ø The rupee fell early on Thursday as weak economic data from the United States and China added to the clouded outlook for capital inflows. The rupee was at 51.05/06 to the dollar.
Ø After a gap-down opening, we expect Nifty Mar Futs to cover that gap in the afternoon trade. A break above 5175 level can lift it up to 5240-50 level on intra-day basis. On the downside, Nifty Mar Futs can find support at 5140 mark.
Ø INDICES: Sensex -139 at 16983 (-0.81%), NIFTY -41 at 5154 (-0.78%), CNXMIDCAP -51 at 7448 (-0.67%)
Ø SECTORAL PERFORMANCE: BANKEX -0.64%, AUTO -0.35%, CAPITAL GOODS -1.34%, HEALTHCARE 0.05%, Metal -0.35%, OIL & GAS -0.13%, IT -1.01%, FMCG -1.15%, PSU -0.31%, REALTY -0.19%, Consumer Durables -0.26%, POWER -0.97%
Ø MARKET BREADTH: 210 Advances, 281 Declines (BSE 500)
Ø TODAY'S GAINERS: RBXY 3.3%, Coal 2.11%, HMCL 1.49%, JPA 0.78%, DRRD 0.39%
Ø TODAY'S LOSERS: BHEL -2.22%, SIEM -2.06%, HNDL -1.95%, ACC -1.89%, ITC -1.85%
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