Market Commentary:
Ø Asian stocks fell for a fourth day
and the yen strengthened against all its major counterparts amid a European
backlash against budget cuts. The Australian dollar weakened and the nation’s
10-year bond yields touched a record low after inflation in the country
unexpectedly slowed.
Ø Backhome, Volatility continued in
morning trade as key benchmark indices alternately moved between positive and
negative terrain. Nifty gained somewhat strength amid choppy trade due to
further upside in TCS, and a bit of recovery Reliance Industries and Infosys.
Nifty after finding support at 5180 level, was trading above 5200.
Ø Stocks in Focus:
v Telecom stocks: Bharti Airtel, Idea
Cellular, Tata Comm, Reliance Comm dropped as TRAI proposed a
sharply-higher-than expected base price for an auction of 2G radio spectrum.
v TCS: jumped nearly 10% after good Q4
results and positive FY 2013 outlook.
Ø The rupee today lost 29 paise to
52.79 against the US dollar, due to increased demand for the American currency
from importers.
Ø We expect Nifty Apr Futs to face
strong resistance at 5245-50 level where as another weak opening in EU markets
can make it to slide upto 5150-60 level.
Ø INDICES: Sensex +70 at
17167 (0.41%), NIFTY +13 at 5214 (0.26%), CNXMIDCAP -6 at 7503 (-0.08%)
Ø SECTORAL PERFORMANCE: BANKEX -0.2%, AUTO -0.3%, CAPITAL
GOODS -0.54%, HEALTHCARE -0.01%, Metal 0.59%, OIL & GAS -0.38%, IT 2.49%,
FMCG -0.13%, PSU 0.48%, REALTY 0.23%, Consumer Durables 0.85%, POWER 0.89%
Ø MARKET BREADTH: 257 Advances, 224 Declines (BSE
500)
Ø TODAY'S GAINERS: TCS 11.68%, HCLT 4.23%, WPRO 2.82%,
TPWR 2.31%, HNDL 1.89%
Ø TODAY'S LOSERS: BHARTI -3.38%, ACEM -2.91%, ACC
-2.05%, MM -2.04%, KMB -1.91%
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