india Market Wrap

Ø INDICES: Sensex +133 at 17333 (0.77%), NIFTY +50 at 5277 (0.96%), CNXMIDCAP +58 at 7652 (0.76%)

Ø SECTORAL PERFORMANCE: BANKEX 1.62%, AUTO 1.25%, CAPITAL GOODS 1.03%, HEALTHCARE 0%, Metal 2.2%, OIL & GAS 0.51%, IT -0.78%, FMCG 1.5%, PSU 0.67%, REALTY 0.18%, Consumer Durables 0.27%, POWER 0.65%

Ø MARKET BREADTH: 345 Advances, 148 Declines (BSE 500)

Ø VOLUMES: BSE $0.43bn (-7.01%), NSE $2.08bn (-3.26%), F&O $18.27bn (-18.18%)

Ø TODAY'S GAINERS: JSP 4.97%, STLT 4.37%, RCOM 3.58%, ACC 3.48%, AXSB 3.38%

Ø TODAY'S LOSERS: DRRD -2.23%, CAIR -2.14%, INFO -1.92%, WPRO -1.54%, ONGC -1.14%

MARKET COMMENTARY:

Indian benchmarks added gains on back of buying in the frontline blue chip counters. The sentiments were buoyed on hopes of an imminent interest rate cut by India’s central bank, which heightened after the February IIP numbers. The benchmark equity indices held steady despite government data indicating India's industrial output rose at a much slower than expected 4.1% in February from a year earlier. Traders were seen piling up position in Metal, Bankex and FMCG sector while selling was witnessed in IT, Health Care and TECH sector. Further, the next major trigger for the market will also be judged by the inflation numbers. On Friday, April 13, 2012, the government will unveil data on inflation based on the wholesale price index (WPI) for March 2012. Besides, all eyes are set on IT bellwether Infosys March Q4, 2012 result which the company will announce it on April 13, 2012, further giving direction for the markets. On the global front, Asian markets were traded on a mix note while the European markets were trading in green on optimistic note. On the home turf, the market breadth was in favor of advances.

NEWS ON TODAYS MOVERS:

Ø Max India jumped 8.4% after the company said that Japan's Mitsui Sumitomo Insurance Company will acquire 26% stake in Max New York Life Insurance.

Ø Maruti Suzuki India rose 3.1% after the company said it has today, 12 April 2012, unveiled industry's first Life Utility Vehicle -- Ertiga.

Ø Sesa Goa rose 3%, with the stock recovering on bargain hunting after 4-day 9.34% slide.

Ø Sterlite Industries (India) rose 4.4% after the company's American depository receipt, or ADR advanced 3.53% to settle at $8.22 on the New York Stock Exchange on Wednesday, 11 April 2012.

Ø ICICI Bank rose 1.7% after the private sector bank's American depository receipt or ADR gained 2.34% to settle at $34.16 on the New York Stock Exchange on Wednesday, 11 April 2012

Ø L&T rose 0.6% to, with the stock recovering on bargain hunting after four-day 5.43% slide.

Ø Ashok Leyland rose 2.2% on reports the company is set to enter Britain's mid-range truck market through a tie-up by its Prague-based subsidiary, Avia Ashok Leyland.

Ø Siemens rose 3.06% after the company said it will amalgamate Siemens Power Engineering -- a 100% subsidiary of Siemens AG, Germany.

Ø Neyveli Lignite Corporation surged 4.4%, on reports the union cabinet has approved the state-run company's proposal to set up 1,980 megawatt power project in Uttar Pradesh.

Ø ABB rose 1.63% ,after the company said it has secured an order worth Rs 75 crore from Delhi Metro Rail Corporation to provide power solutions for a planned Jaipur Mass Rapid Transport System in Rajasthan.

Ø Infosys shed 1.92%, in anticipation of dull earnings from the IT major tomorrow

Ø India Cements rose 1.86% on bargain hunting after sliding 15.05% in the prior three trading sessions

CORPORATE NEWS:

Ø Force Motors enters into agreement with HPCL

Ø Apex Court hits tele companies to shut operations from June 2

Ø Ingersoll Rand Chennai plant to be ready by next yr

Ø Max India-New York Life JV to sell 26% to Japanese firm

Ø Karur Vysya Bank enters agreement with M&M for SUV loans

Ø Maruti Suzuki Ertiga set for launch today

Ø Govt set to defer nod for FDI in domestic airlines

Ø IOB eyes 16-18% credit growth in FY13.

Ø M&M to consolidate R&D units

Ø Zee TV to be 1st Indian channel to enter into Chinese mkt

Ø ADB expects RBI to cut interest rates

Ø Max Healthcare to add 600 beds in FY13

ECONOMIC NEWS:

Ø Feb IIP at 4.1% vs. 6.8% in Jan (which was later revised to 1.1% for JAN)

Ø Govt OKs Air India financial restructuring

Ø DOF changes urea prices for UP & Gujarat to recover state input taxes

Regards

Jatin Padharia
+912261544569
+919867336999