I sell this stuff for a living, so I see an awful lot of it. You might want to take a look at fabric based jackets since they are more breathable than the ponchos, so the rain won't get in, but your sweat can get out. They tend to be lighter too. Of course, some people prefer the simplicity and durability of ponchos, and there is nothing wrong with that. Here are some tips if you stray away from the classic plastic poncho type rain jacket:
-Look for taped or welded seams. Water will get in at the seams in a heavy downpour.
-Pitzips are my favorite part of every jacket I own with them. You would be amazed at how much less moisture and heat you retain on your body with a little venting.
-Some jackets will have adjustable elastic cords in the hoods that cinch around the back of your head. Different companies call them different things, but they keep the hood attached to your head, so the hood moves with your head and does not flap back in high winds.
-Sil-nylon is not waterproof, so don't listen to marketing lies.

it is awfully lightweight, but you will get SOAKED in a decent rainstorm.
The Marmot Precip is a nice choice. It retails for $100, and can be found all over the place for less than that. It is light, waterproof, and cheap.
It's too bad you aren't in the US. REI is doing their super clearance right how and you can get some great waterproof jackets for crazy cheap. I have an ultralight one that packs down to and weighs nothing that I paid maybe $40 for, with all of the above features, and then some.