Market
Commentary:
Ø Asian stocks fell, heading for the
biggest weekly decline since November, while U.S. equity futures and oil
dropped after JPMorgan Chase & Co.’s $2 billion surprise loss underscored
risks to global financial markets. Treasuries rallied for an eighth week, the
longest winning streak since 1998.
Ø Back home as well South-bound
journey continued for yet another day with Nifty breaching crucial 4,950 mark
in early trade following weak regional peers. Adding to the negatives much
lower (-3.5%) than expected growth (+1.7%) in industrial output data for March
sent the BSE Sensex and NSE Nifty more than 1% lower.
Ø Stocks in Focus:
v JSW Steel tanked as SC orders CBI
probe in mining case
v Ranbaxy (RBXY) lost 4% on profit
booking after a recent sharp rally in stock post results.
Ø The rupee depreciated by 12 paise to
Rs 53.54 against the dollar, weighed down by dollar's gains against euro and
Asian currencies overseas.
Ø On intra-day basis, we expect Nifty
May Futs to trim some losses. It can touch 4960 on its upmove.
Ø INDICES: Sensex -148 at 16272 (-0.9%),
NIFTY -49 at 4917 (-0.98%), CNXMIDCAP -114 at 6949 (-1.62%)
Ø SECTORAL PERFORMANCE: BANKEX -0.52%, AUTO -0.53%, CAPITAL
GOODS -1.39%, HEALTHCARE -1.67%, Metal -1.54%, OIL & GAS -0.44%, IT -1.04%,
FMCG -1.63%, PSU -1.17%, REALTY -1.42%, Consumer Durables -1.08%, POWER -0.93%
Ø MARKET BREADTH: 85 Advances, 411 Declines (BSE 500)
Ø TODAY'S GAINERS: BHEL 1.03%, TTMT 0.86%, BJAUT
0.82%, JPA 0.58%, HMCL 0.47%
Ø TODAY'S LOSERS: RBXY -4.06%, SUNP -3.31%, MSIL
-3.16%, ACC -3.1%, ITC -2.76%
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