Market Commentary:
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Asian stocks fell, the New Zealand dollar slid to a
three-month low and gold dropped as data on global jobs and China’s services
industry signaled weaker economic growth. Chinese banks slumped after Temasek
Holdings Pte. sold shares in the lenders.
Ø
Backhome, sentiments continue to remain bearish on Thursday’s
morning trade on the back of fresh selling by funds and retail investors
tracking a weak trend across the globe. The benchmark index Nifty breached 5200
mark on feeble rupee. The Indian rupee declined by 26 paise in early trade
today to hit fresh four-month low of Rs 53.22.
Ø
Stocks in Focus:
v
FMCG giant Hindustan Unilever (HUL): extended Wednesday's
gains triggered by strong Q4 earnings.
v
Sugar stocks like Shree Renuka Sugar, Balrampur Chini, Bajaj
Hindustan, Dhampur Sugar Mills rallied 3-6 percent as government on Wednesday
removed the cap on sugar exports.
v
Banks stocks (SBI/ICICI/AXSB) declined as the RBI's final
guidelines to implement the Basel-III capital rules require banks to steadily
build up their capital buffers through March 2018.
v
IRB shares took a beating after the managing director of the
company were produced before the court by the CBI to seek permission for the
test in a murder case.
Ø
For Nifty May Futs, we expect it to slide further down during
the day. It may find support at 5160 level while upside can be restricted to
5225-30.
Ø INDICES: Sensex -117 at
17185 (-0.67%), NIFTY -41 at 5198 (-0.78%), CNXMIDCAP -84 at 7360 (-1.13%)
Ø
SECTORAL PERFORMANCE: BANKEX -1.52%, AUTO -1.92%, CAPITAL GOODS
-0.85%, HEALTHCARE -0.12%, Metal -1.08%, OIL & GAS -0.55%, IT 0.3%, FMCG
-0.2%, PSU -1.11%, REALTY -1.76%, Consumer Durables -0.26%, POWER -1.03%
Ø
MARKET BREADTH: 105 Advances, 384 Declines (BSE 500)
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TODAY'S GAINERS: WPRO 1.81%, RCOM 1.72%, HUVR 1.62%, HDFCB 0.91%, INFO 0.81%
Ø
TODAY'S LOSERS: HMCL -6.76%, AXSB -3.42%, ICICIBC -3.13%, DLFU -3.01%, IDFC
-2.85%
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