Market
Commentary:
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European
equity futures fell, commodities declined to their cheapest this year and the
euro weakened to a three-month low on concern that Greece would exit the single
European currency and after German Chancellor Angela Merkel’s party lost a
state election.
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Backhome,
benchmarks made a flat-to-positive opening tracking an overall mixed trend in
Asian markets. But a higher than expected April inflation number led to a sharp
fall in the market. As resported, there was a sharp rise in price in April as
inflation has inched up to 7.23%, much higher than 6.89% in March. Nifty fell
more than 0.50% before again gaining the 4900 mark.
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Stocks
in Focus:
v L&T gained arond 1% ahead of its
FY 2012 results today.
v OMCs (BPCL/HPCL/IOCL): were edged
higher by about 1% each on the buzz that they may go for a price hike after the
budget session.
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The
rupee moved up marginally by 4 paise to trade at 53.59 against the dollar on
increased foreign fund inflows amid a higher opening in the equity market.
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On
Intra-day basis, we expect Nifty May Futs to find support at 4880 level.
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INDICES:
Sensex -71 at 16222 (-0.44%), NIFTY -27 at 4902 (-0.55%), CNXMIDCAP -60 at 6926
(-0.86%)
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SECTORAL
PERFORMANCE: BANKEX
-1.46%, AUTO -0.24%, CAPITAL GOODS -0.27%, HEALTHCARE 0.3%, Metal -0.24%, OIL
& GAS -0.69%, IT -0.28%, FMCG -0.12%, PSU -0.83%, REALTY -0.89%, Consumer
Durables 0.39%, POWER -0.83%
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MARKET
BREADTH: 158
Advances, 331 Declines (BSE 500)
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TODAY'S
GAINERS: BJAUT
1.28%, SESA 1.26%, GAIL 0.96%, BPCL 0.96%, MM 0.95%
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TODAY'S
LOSERS: JPA -3.26%,
RPWR -3.19%, HCLT -2.57%, RCOM -2.51%, ONGC -2.22%
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