Mid Market Wrap

Market Commentary:

Ø  Asian stocks rose for a second day and bond risk in the region fell after Federal Reserve Chairman Ben S. Bernanke said he’s prepared to do more to stimulate growth if needed. The won strengthened as South Korea’s economy grew at the fastest pace in a year.

Ø  After opening in the green buoyed by supportive global cues, domestic bourses turned flat as investors remained cautious ahead of April F&O series expiry.  Key indices alternately moved between positive and negative terrain near the flat line in morning trade. Auto stocks were down on account of profit booking.

Ø  The rupee today appreciated by 11 paise to 52.43 against the US dollar in, as the American currency fell against other currencies overseas.

Ø  For Nifty Apr Futs, we expect volatility to increase with negative biasas the day progresses. On the downside we expect it to slide up to yesterday's low 5150-60.

Ø  INDICES: Sensex -3 at 17148 (-0.02%), NIFTY -4 at 5198 (-0.09%), CNXMIDCAP -29 at 7401 (-0.39%)

Ø  SECTORAL PERFORMANCE: BANKEX -0.29%, AUTO -0.64%, CAPITAL GOODS -0.33%, HEALTHCARE -0.12%, Metal 0.63%, OIL & GAS -0.29%, IT 0.51%, FMCG -0.16%, PSU -0.68%, REALTY -0.58%, Consumer Durables 0.52%, POWER -0.4%

Ø  MARKET BREADTH: 212 Advances, 268 Declines (BSE 500)

Ø  TODAY'S GAINERS: JSP 2.71%, KMB 1.3%, PWGR 1.24%, ACEM 1.2%, GRASIM 1.2%

Ø  TODAY'S LOSERS: HMCL -2.98%, GAIL -2.56%, JPA -2.38%, PNB -2.05%, DLFU -1.96%