Market Commentary:
Ø Asian stocks rose after falling the
most in six months and copper gained on optimism over earnings and as German
manufacturing data improved. The Australian dollar fell after the country’s
trade deficit more than doubled.
Ø Back home, a bout of volatility was
witnessed in mid-morning trade as key benchmark indices recovered soon after
sliding to fresh intraday lows. The BSE Sensex and NSE Nifty pared losses led
by recovery in banks, capital goods and metals stocks.
Ø Stocks in Focus:
v IT gauge tumbled over 2% after
Cognizant Technology Solutions lowered its full-year forecast for the first time
in nearly four years. TCS was down more than 4% while INFY, HCL Tech & WPRO
lost around 2%.
v Gas utility major GAIL (India)
advanced on bargain hunting after falling 3.51% in prior four trading sessions.
Ø The rupee opened higher on Tuesday
as global risk sentiment improved. It was trading at 52.8250/8350 to the
dollar.
Ø For Nifty May Futs, on Intra-day
basis we expect it to find support at 5060 level while upside can be restricted
to 5110.
Ø
INDICES: Sensex -115 at 16797 (-0.68%), NIFTY -33 at 5081
(-0.65%), CNXMIDCAP +16 at 7256 (0.22%)
Ø SECTORAL PERFORMANCE: BANKEX -0.45%, AUTO -0.77%, CAPITAL
GOODS -0.85%, HEALTHCARE 0.01%, Metal -0.2%, OIL & GAS -0.64%, IT -2.39%,
FMCG 1.04%, PSU 0.84%, REALTY 0.72%, Consumer Durables 0.03%, POWER -0.81%
Ø MARKET BREADTH: 306 Advances, 177 Declines (BSE
500)
Ø TODAY'S GAINERS: GAIL 3.62%, Coal 2.48%, PNB 2.33%,
DLFU 2.21%, ITC 1.63%
Ø TODAY'S LOSERS: TCS -4.82%, INFO -2.81%, BHEL
-2.73%, HCLT -2.67%, WPRO -2.07%
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