Market
Commentary:
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Asian
stocks fell for a sixth day, commodities dropped and the yen weakened as talks
to form a new Greek government failed and Japanese machinery orders declined.
Japan’s 10-year bond yield fell to the lowest level since October 2010.
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Backhome,
after a gap-down opening benchmark indices continued to slide further down to
hit their lowest level in more than 17 weeks. The BSE Sensex and NSE Nifty fell
1.7% each due to consistent sell-off in major sectors like banks &
financials, auto, metals and FMCG stocks. Nifty was hovering aroung its crucial
support of 4850 level.
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Stocks
in Focus:
v Cairn India shot up 2.5% on the back
of addition in Global Standard Index by MSCI.
v Tata Motors plunged over 6% due to
dismal performance in April's sales numbers.
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The
rupee today fell five-month low by losing 47 paise to 54.26 against the US
dollar on increased capital outflows amid strong demand for the American
currency.
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On
Intra-day basis, as sentiments remains bearish we expect Nifty May Futs to
trade in red zone only. It can take further direction after EU opening. Some
bottom fishing may take it upto 4875-80 level later in the day.
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INDICES:
Sensex -327 at 16002 (-2%), NIFTY -95 at 4848 (-1.92%), CNXMIDCAP -88 at 6874
(-1.26%)
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SECTORAL
PERFORMANCE: BANKEX
-2.31%, AUTO -3.35%, CAPITAL GOODS -1.99%, HEALTHCARE -0.32%, Metal -2.67%, OIL
& GAS -0.24%, IT -1.03%, FMCG -0.86%, PSU -1.31%, REALTY -2.2%, Consumer
Durables -2.29%, POWER -2.52%
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MARKET
BREADTH: 99
Advances, 395 Declines (BSE 500)
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TODAY'S
GAINERS: BPCL
3.27%, CAIR 1.68%, GAIL 0.89%, DRRD 0.73%, TCS 0.01%
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TODAY'S
LOSERS: TTMT
-6.97%, HDFC -5.04%, JPA -4.15%, BHEL -4.09%, IDFC -3.99%
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