Mid Market Wrap

Market Commentary:

Ø  Asian stocks fell, commodities headed for their longest slump in 14 years and bond risk climbed on evidence of slowing growth in China before a report that may show Europe’s economy shrank for the first time since 2009. The euro traded near an almost four-month low.

Ø  Backhome, after trading in a very narrow range near to yesterday'close benchmark indiced made a postive move hitting intra-day high. Nifty was trying to catch the 4950 mark but trading comfortably above 4900.

Ø  Stocks in Focus:

v  Larsen & Toubro (LT): stock shot up 5% after the company said it expects a 15-20% growth on the topline as well as order inflows for FY13.

Ø  The rupee today recovered by 19 paise to 53.77 against the US dollar on the back of selling of the American currency by some banks and exporters.

Ø  We expect Nifty May Futs to trade with slight positive bias for rest of the day.

Ø  INDICES: Sensex +108 at 16324 (0.67%), NIFTY +29 at 4937 (0.59%), CNXMIDCAP +9 at 6931 (0.12%)

Ø  SECTORAL PERFORMANCE: BANKEX 0.68%, AUTO -0.14%, CAPITAL GOODS 2.76%, HEALTHCARE 0.53%, Metal 0.71%, OIL & GAS 0.2%, IT 0.53%, FMCG 0.06%, PSU -0.22%, REALTY 0.19%, Consumer Durables -0.37%, POWER 0.16%

Ø  MARKET BREADTH: 276 Advances, 212 Declines (BSE 500)

Ø  TODAY'S GAINERS: LT 4.79%, RPWR 2.5%, BPCL 2.44%, HMCL 2.26%, CIPLA 2.04%

Ø  TODAY'S LOSERS: NTPC -1.93%, MSIL -1.92%, IDFC -1.65%, Coal -1.14%, DRRD -0.98%