Mid Market Wrap

Market Commentary:

Ø Asian stocks fell for a fifth day as the yen pared losses after the Bank of Japan kept its monetary policy unchanged and China reported an unexpected trade surplus. Gold and bond risk increased.

Ø Indian equity markets have made the positive start but, slipped into the red as participants booked their initial profits amid somber global cues.The NSE Nifty was moving in a narrow range of 5225-5250 since beginning of trade today ahead of key events in April - one is earnings season and second event is RBI monetary policy that schedule to be announced on April 17.

Ø The market breadth, indicating the overall health of the market, turned positive from negative.

Ø Stocks in Focus:

o Shares of Indraprastha Gas dropped over 40 percent in early trade after Gas board ordered cuts in rates, charges for CNG & PNG to Delhi consumers. Other gas providers like GAIL, Petronet LNG, Gujarat State Petronet and Gujarat Gas tanked 10-14%.

o FMCG majors ITC and HUL shot up 1.5-2% each.

Ø The rupee trimmed early gains on Tuesday as demand for dollars from oil importers picked up and choppy shares clouded the outlook for capital inflows.he rupee was at 51.11/12 to the dollar.

Ø We expect Nifty Apr Futs to move upward in afternoon trade. On the break of 5260 level on futures, we can see the intra day move up to 5300-05 levels.

Ø INDICES: Sensex +11 at 17233 (0.06%), NIFTY +5 at 5240 (0.1%), CNXMIDCAP -39 at 7633 (-0.51%)

Ø SECTORAL PERFORMANCE: BANKEX -0.06%, AUTO 0.63%, CAPITAL GOODS 0.24%, HEALTHCARE 0.23%, Metal -0.77%, OIL & GAS -0.78%, IT -0.64%, FMCG 1.56%, PSU -0.59%, REALTY 0.45%, Consumer Durables -0.41%, POWER -0.16%

Ø MARKET BREADTH: 217 Advances, 272 Declines (BSE 500)

Ø TODAY'S GAINERS: HUVR 2.2%, TTMT 2%, TPWR 2%, ITC 1.83%, SUNP 1.74%

Ø TODAY'S LOSERS: GAIL -3.47%, RBXY -1.8%, SESA -1.77%, TATA -1.64%, INFO -1.51%