Market Commentary:
Ø Sentiments remain bullish in the morning trade with markets hitting 1-1/2-week highs, extending gains for the third straight session on continued buying by funds and retailers tracking positive global cues.
Ø The US markets extended their jubilation on the first trading day of the new quarter supported by domestic manufacturing data that continued to improve last month while, most of the Asian counters were trading in the green at this point of time. Back home, benchmarks inching towards their crucial, 17,600 and 5,350 mark respectively, supported by most of the index heavyweights along with broader indices.
Ø On sectoral front, consumer durables witnessed the maximum gain in trade followed by metal and banking while, auto, software and technology remained the few losers on the space.
Ø Meanwhile, interest rate sensitive realty stocks rose for the third straight day on expectations that the Reserve Bank of India (RBI) will start cutting interest rates in the coming months to prop up slowing economy.
Ø The broader indices were outperforming benchmarks. The market breadth was positive
Ø INDICES: Sensex +154 at 17632 (0.88%), NIFTY +46 at 5364 (0.87%), CNXMIDCAP +68 at 7835 (0.87%)
Ø SECTORAL PERFORMANCE: BANKEX 1.66%, AUTO -0.04%, CAPITAL GOODS 1.3%, HEALTHCARE 0.25%, Metal 1.45%, OIL & GAS 2%, IT 0.1%, FMCG 0.43%, PSU 1.08%, REALTY 1.25%, Consumer Durables 1.64%, POWER 0.67%
Ø MARKET BREADTH: 395 Advances, 96 Declines (BSE 500)
Ø TODAY'S GAINERS: CAIR 4.21%, JPA 3.48%, HNDL 3.02%, STLT 2.7%, RIL 2.61%
Ø TODAY'S LOSERS: HMCL -1.15%, TCS -1.11%, MSIL -0.86%, MM -0.68%, DRRD -0.62%
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