Market
Commentary:
Ø Asian stocks rose for a second day
and metals advanced on speculation China and Europe will take steps to bolster
economic growth. The euro weakened.
Ø Backhome, a bout of volatility was
witnessed as key benchmark indices trimmed gains after a firm opening.The BSE
Sensex and NSE Nifty stayed up 0.6% each led by buying interest in oil &
gas, technology, private banks and metals stocks. Nifty was trying to regain
4950 mark.
Ø Stocks in Focus:
v Tata Power: stock was down by more
than 2% ahead of its FY 2012 results today.
v Thomas Cook was the most active
stock on the BSE after the parent company sold 77% stake in Indian unit to
Fairbridge Capital at Rs 50 a share and announced open offer at Rs 65.48 a
share. The stock gained 2%.
Ø The rupee recovered by four paise to
54.99 after touching an all-time low in late morning trade due to mild selling
of dollars by banks following measures taken by RBI to curb the local
currency's fall.
Ø Nifty May Futs may take further
direction after EU opening. We expect it trade in the range of 4890-4950.
Ø
INDICES:
Sensex +83 at 16267 (0.51%), NIFTY +23 at 4929 (0.47%), CNXMIDCAP +28 at 6931
(0.4%)
Ø SECTORAL PERFORMANCE: BANKEX 0.47%, AUTO 0.52%, CAPITAL
GOODS 0.35%, HEALTHCARE -0.24%, Metal 0.62%, OIL & GAS 0.99%, IT 0.73%,
FMCG 0.55%, PSU 0.97%, REALTY -0.13%, Consumer Durables 0.39%, POWER 0.53%
Ø MARKET BREADTH: 322 Advances, 162 Declines (BSE
500)
Ø TODAY'S GAINERS: BHEL 3.02%, TTMT 2.62%, SAIL 2.53%,
CAIR 1.95%, RCOM 1.67%
Ø TODAY'S LOSERS: SUNP -2.5%, TPWR -2.4%, MSIL -1.67%,
SESA -1.44%, RPWR -1.07%
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