Morning Summary, Market Synopsis: 23rd January, 2013

The major Indian equity benchmarks started on a stable note and are trading in the similar levels as that of opening. The S&P 500 and Dow Jones Industrial Average indices ended at five-year highs on Tuesday as better-than-expected corporate earnings lifted sentiment. Thus  Indian indices rose today tracking overnight gains in US equities .The third quarter results declared so far has been better than expectation and majority of them has been discounted by now. Hence market is waiting for a fresh trigger which can only emerge post RBI policy review meet. This led the sensex to trade near the level of 20011.90 i.e., up by 30.33 points & the Nifty is trading near the level of 6056.45 i.e., up by nearly 7.95 points. The midcap index  and the small cap index are trading in positive zone with marginal gains. On the sectoral front the indices are trading mixed. Consumer Durables index  is the biggest gainer with the gains of more than  half a  percentage point, followed by Capital Goods  Index , which  is trading with the gain of nearly half a  percentage point. On the other hand PSU  index  is the biggest looser with the loss of more than quarter of a percentage point. Further, the market breadth  is neutrally placed , as one stock is seen advancing for each declining stock.