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Wednesday, 25 April 2012

Mid Market Wrap


Market Commentary:
Ø  Asian stocks snapped a four-day drop and the yen fell as corporate profits beat estimates and South Korea’s consumer confidence rose to an 11-month high. Cattle and corn futures rebounded after a mad-cow disease scare.
Ø  Indian equity markets were steady in the mid-morning session and trading in a tight range. A S&P warning of possible downgrade of India triggered the market collapse by more than 1% in mere 10-15 mins. Nifty was struggling to hold 5160.
Ø  Stocks in Focus:
v  Wipro tanked nearly 8% post company's muted guidance for Q1FY13.
v  Igarashi Motors was locked at 20% upper circuit today as its Q4 net jumped 450% YoY to Rs 6.6 crore.
Ø  Snapping its two-day losing streak, the rupee today recovered by 18 paise to 52.50 against the US dollar.
Ø  We expect Nifty Apr Futs to slide further in afternoon trade. On intra-day basis, it can see support at 5100-20 level.

Ø  INDICES: Sensex -139 at 17069 (-0.81%), NIFTY -44 at 5179 (-0.84%), CNXMIDCAP -67 at 7423 (-0.89%)
Ø  SECTORAL PERFORMANCE: BANKEX -0.88%, AUTO -0.05%, CAPITAL GOODS -1.41%, HEALTHCARE -0.54%, Metal -1.09%, OIL & GAS -0.73%, IT -1.07%, FMCG -0.26%, PSU -1.18%, REALTY -1.64%, Consumer Durables -1.47%, POWER -1.71%
Ø  MARKET BREADTH: 103 Advances, 388 Declines (BSE 500)
Ø  TODAY'S GAINERS: BHARTI 1.56%, MSIL 1.33%, HMCL 1.32%, ACEM 0.9%, SESA 0.8%
Ø  TODAY'S LOSERS: WPRO -7.44%, RPWR -3.72%, GAIL -2.9%, SIEM -2.54%, SAIL -1.99%

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