Mid Market Wrap

Market Commentary:

Ø  Asian stocks fell for a third day, metals dropped and the yen strengthened after data showed that China’s manufacturing may contract for a sixth month and companies reported lower-than-estimated profits.

Ø  Backhome, the NSE Nifty continued to move in a narrow range around the 5280-90 level with negative bias since the opening trade. Moreover, investors are likely to react to the Q4FY12 earnings of India Inc this week but, trading cautiously as it is being the F&O series expiry week.

Ø  Stocks in Focus:

v  Index heavyweight Reliance Industries (RIL) rose 1.32% on better than expected GRM.

v  AP Paper Mills rose almost 15% with heavy volumes.

Ø  The rupee marginally down by 3 paise to Rs 52.10 per dollar on increased demand from importers for the American currency.

Ø  Nifty Apr Futs to find support 5225-5230 where as 5315-5320 will act as resistance on the upside

Ø  INDICES: Sensex -29 at 17345 (-0.17%), NIFTY -13 at 5278 (-0.25%), CNXMIDCAP -15 at 7611 (-0.2%)

Ø  SECTORAL PERFORMANCE: BANKEX -0.2%, AUTO -0.3%, CAPITAL GOODS -0.5%, HEALTHCARE 0.04%, Metal 0.09%, OIL & GAS 0.5%, IT -0.92%, FMCG 0.13%, PSU -0.16%, REALTY -1.24%, Consumer Durables -0.16%, POWER -0.95%

Ø  MARKET BREADTH: 220 Advances, 263 Declines (BSE 500)

Ø  TODAY'S GAINERS: SAIL 3.29%, TATA 1.5%, RIL 1.21%, ACC 0.86%, MSIL 0.7%

Ø  TODAY'S LOSERS: RCOM -2.96%, IDFC -2.56%, INFO -2.26%, DLFU -2.05%, RPWR -2%