Mid Market Wrap

Market Commentary:

Ø  Asian stocks fell, with the region’s benchmark index erasing the year’s gains, South Korea’s won weakened and Japanese bond yields slid to the lowest since 2003 as Europe’s debt crisis worsened and a U.S. factory gauge contracted. The Dollar Index (DXY) extended its longest rally.

Ø  After a day of relief, Indian benchmarks have resumed their south-bound journey in the Friday’s morning trade with a gap-down opening. The Sensex and the Nifty took heavy knock on Friday due to consistent fall across all the sectors.  Nifty breached the 4800 level in the morning and was hovering that level.

Ø  Stocks in Focus:

v  Tata Motors: continued to slide lower on weak global sales numbers reported 2-days back. Stock was down by 5%.

v  SBIN: gained 1% ahead of its quarterly result.

Ø  The rupee makes new low of 54.78, marking its third consecutive record high in a row vs 54.49/50 last close.

Ø  On Intra-day basis, we expect Nifty May Futs to trade in red zone for rest of the day as well. On the upside it can rise up to 4820 level while support can be seen at 4750-60 level.

Ø  INDICES: Sensex -173 at 15898 (-1.08%), NIFTY -53 at 4817 (-1.09%), CNXMIDCAP -70 at 6817 (-1.01%)

Ø  SECTORAL PERFORMANCE: BANKEX -0.5%, AUTO -2.83%, CAPITAL GOODS -1.79%, HEALTHCARE -0.53%, Metal -1.53%, OIL & GAS -0.46%, IT -1.31%, FMCG -0.53%, PSU -0.41%, REALTY -1.51%, Consumer Durables -0.41%, POWER -0.78%

Ø  MARKET BREADTH: 84 Advances, 408 Declines (BSE 500)

Ø  TODAY'S GAINERS: SBIN 1.04%, PWGR 0.81%, NTPC 0.77%, HUVR 0.6%, KMB 0.6%

Ø  TODAY'S LOSERS: TTMT -4.81%, MSIL -3.49%, SIEM -3.2%, BJAUT -3.1%, BHEL -2.79%