Market
Commentary:
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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%)
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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)
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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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