Mid Market Wrap

Market Commentary:

Ø  Asian stocks rose from a five-month low, the yen slid against all its major peers and commodities gained on speculation China and Japan may take steps to boost economic growth.

Ø  Backhome, prolonging its Friday’s up-move, domestic benchmarks are trading with traction, though some profit booking was witnessed in early trade. The BSE Sensex and NSE Nifty gained ~0.5% each amid a choppy trade. Nifty was trading firm above 4900 level.

Ø  Stocks in Focus:

v  SBIN: continued to extend its positive run that was started post its Q4 results on Friday. Stock was up by over 3.5%.

v  Tata Steel lost 1% to Rs 396 after weak Q4 results.

Ø  The rupee was broadly flat against the dollar tracking a mild recovery in risk assets after G8 leaders over the weekend backed keeping Greece in the euro zone.

Ø  From Intra-day perspective, we expect Nifty May Futs to trade in the range of 4860-4920.

Ø  INDICES: Sensex +67 at 16220 (0.41%), NIFTY +22 at 4914 (0.46%), CNXMIDCAP +42 at 6909 (0.61%)

Ø  SECTORAL PERFORMANCE: BANKEX 1.19%, AUTO 0.18%, CAPITAL GOODS 1.46%, HEALTHCARE 0.29%, Metal 0.28%, OIL & GAS 0.8%, IT -0.38%, FMCG -0.48%, PSU 0.66%, REALTY 1.21%, Consumer Durables 0.19%, POWER 0.81%

Ø  MARKET BREADTH: 362 Advances, 127 Declines (BSE 500)

Ø  TODAY'S GAINERS: SBIN 3.85%, TPWR 3.8%, RELI 3.73%, MSIL 3.18%, KMB 2.34%

Ø  TODAY'S LOSERS: NTPC -1.59%, WPRO -1.51%, TATA -1.49%, INFO -1.29%, HCLT -1.28%