Mid Market Wrap

Market Commentary:

Ø  Asian stocks rose, led by Taiwan and mainland China, while regional bond risk fell after data showed improved manufacturing in the U.S. and China, the two biggest economies. The yen slid against all of its 16 major peers.

Ø  Back home, after a small gap-up opening the Indian market was able to hold on to early morning gains. Key indices extended gains after a monthly survey showed pace of growth in manufacturing sector inched up in April 2012.  Nifty was holding 5250 mark, slowly and steadily inching towards 5300.

Ø  Stocks in Focus:

v  Hindustan Unilever: FMCG giant scaled record high after strong Q4 results.

v  KPIT Cummins Infosystems jumped 20% after consolidated net profit rose 6.4% to Rs 43.71 crore on 26.7% growth in net sales.

Ø  The rupee today strengthened by six paise to 52.67 against US dollar largely on the back of a higher opening at the stock market amid selling of the American currency by exporters.

Ø  For Nifty May Futs, we expect intra-day high (5301.70) made so far to reamin intact. On the break below 5270, it can slide upto 5220-25.

Ø  INDICES: Sensex +67 at 17386 (0.39%), NIFTY +20 at 5268 (0.37%), CNXMIDCAP +21 at 7492 (0.28%)

Ø  SECTORAL PERFORMANCE: BANKEX 0.83%, AUTO -0.69%, CAPITAL GOODS 0.06%, HEALTHCARE 0.47%, Metal 0.41%, OIL & GAS -0.3%, IT 1.06%, FMCG 0.78%, PSU 0.11%, REALTY 0.3%, Consumer Durables 1.85%, POWER -0.25%

Ø  MARKET BREADTH: 311 Advances, 181 Declines (BSE 500)

Ø  TODAY'S GAINERS: HUVR 2.6%, SAIL 2.11%, BHARTI 1.93%, HCLT 1.86%, DLFU 1.82%

Ø  TODAY'S LOSERS: TTMT -1.91%, MSIL -1.71%, BPCL -1.5%, RPWR -1.49%, BJAUT -1.09%