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INDICES:
Sensex -21 at 17131 (-0.12%), NIFTY -13 at 5189 (-0.25%), CNXMIDCAP -41 at 7389
(-0.55%)
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SECTORAL
PERFORMANCE: BANKEX -0.43%, AUTO -0.84%, CAPITAL GOODS
-0.24%, HEALTHCARE -0.3%, Metal 0.05%, OIL & GAS -0.06%, IT 0.22%, FMCG
0.25%, PSU -0.57%, REALTY -0.89%, Consumer Durables -0.06%, POWER -1.46%
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MARKET
BREADTH: 198 Advances, 295 Declines (BSE 500)
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VOLUMES: BSE $0.45bn
(14.04%), NSE $2.33bn (16.92%), F&O $36.2bn (-4.34%)
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TODAY'S
GAINERS: KMB 3.13%, Coal 2.83%, ACC 2.02%, TCS 2.02%, JSP 1.65%
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TODAY'S
LOSERS: BPCL -3.68%, GAIL -3.6%, TPWR -3.49%, PNB -3.39%, HMCL -3.3%
MARKET COMMENTARY:
Stock markets in India showed a lackadaisical movements in the today’s
session as investors lacked conviction to open fresh positions on the April
series futures and options contract expiry day. The frontline equity indices
traded in an extremely tight range hardly budged from the psychological 5,200
(Nifty) and 17,150 (Sensex) levels. The benchmarks exhibited sideways kind of
movement since the start of trade & traded with a negative bias amid
uncertain market conditions. Market participants chose to consolidate their
positions around previous closing levels a day after rating agencies like
S&P’s and Moody’s voiced their concerns over India’s economic outlook,
citing problems like policy paralysis, slow progress on its fiscal situation,
as well as deteriorating economic indicators. On the global front though, the
overnight US markets rallied on the back of unexpectedly strong quarterly
earnings announcement from Apple Inc and US Federal Reserve’s FOMC meeting
outcome. Asian markets showcased mixed trends after Fed statement highlighted
that the world’s largest economy is likely to expand at a slightly higher rate
than forecasted in January while the Fed also remained entirely prepared to
take further quantitative easing steps if the US economic recovery falters. The
European markets too failed to give any direction to local markets as they
opened on a mixed note ahead of a slew of quarterly earnings announcement from
European majors like Deutsche Bank, Barclays and Bayer. Back home, investors
were seen covering short positions in the badly beaten down IT and TECH
counters which gained over half a percent each and supported the frontline
gauges by capping their losses. However, the rate sensitive Automobile, Realty
and Bankex pockets were among the prominent losers in the sectoral space which
along with the PSU and Power counters capped the upside chances for domestic
bourses. Moreover, the broader market breadth was in favor of declines.
NEWS ON TODAYS MOVERS:
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Sterlite Industries (India) fell nearly 2.45%
after consolidated net profit fell 33.66% to Rs 1276.89 crore on 6.65% growth
in total income to Rs 11522.41 crore in Q4 March 2012 over Q4 March 2011.
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Oberoi Realty rose 1.79% after consolidated
net profit rose 5.1% to Rs 143.59 crore on 3.7% decline in net sales to Rs
252.98 crore in Q4 March 2012 over Q4 March 2011.
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Bharat Electronics fell 1.44% after net
profit fell 25.5% to Rs 333.84 crore on 3.3% decline in net sales to Rs 2232.11
crore in Q4 March 2012 over Q4 March 2011
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JSW Steel declined 1.43% despite company saying
its crude steel production rose 26% to 2.07 million tonnes in Q4 March 2012
over Q4 March 2011.
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Indiabulls Real Estate rose 2.70% after
consolidated net profit surged 159.8% to Rs 56.03 crore on 27.1% decline in net
sales to Rs 440.99 crore in Q4 March 2012 over Q4 March 2011.
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Yes Bank fell nearly 2.29% on reports that Rabobank, the largest retail bank in the
Netherlands, has sold a part of its holding in the bank through bulk deals on
BSE today, 26 April 2012.
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Multi Commodity Exchange of India fell 1.39% after
the stock turned ex-dividend today, 26 April 2012, for an interim dividend of
Rs 18 per share for the year ended 31 March 2012.
CORPORATE NEWS:
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Adhunik Metaliks to sell arm Neepz V Forge
ltd
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Supreme Inds Q4 net profit up by 24.96%
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Wipro consumer goods arm to invest in
deodorant plant
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M&M launches new range of UPS and
inverter batteries
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BEL Q4 net profit declines by 25%
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GMR gets OK to hike charges at New Delhi
airport
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ICICI Bank stake in KFA slips to 2.9%
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Nestle India Q1 net profit marginally up
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Federal Bank cuts lending rate by 0.20%
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Aurobindo gets USFDA's OK for olanzapine
tablets
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Mangalore refinery re-start of units of
refinery
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Strides arcolab 1q net loss 281.6 mln
rupees
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MRF 2q profit 1.5 bln rupees
ECONOMIC NEWS:
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Govt to auction 54 coal blocks
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Power Min to introduce short-term power
purchase norms next month
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Air India to suffer loss of Rs7,853 cr: Civil
Aviation Minister
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RBI hikes hsg loan limit for weaker section
to Rs10 lakh
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