Good Morning Everyone,
The major Indian equity benchmarks started the day on weak note with a gap down. This was on the back of international cues, where US indicies went down to their lowest levels since November on Monday as Italian elections reflected marginally higher support for parties opposed to economic reforms. The benchmarks quickly lost ground after opening on sustained selling pressure. However in our markets investors will primarily remain focused on the announcements in the Railway Budget for 2013-14 (Apr-Mar) today. This led the Sensex to trade near the level of 19217.22 i.e. down by 114.47 points & the Nifty to trade near the level of 5822.15 i.e. down by 32.6 points. The Midcap index and the small cap index are trading with the loss of nine - tenth of a percentage point and three-forth of a percentage point respectively. On the sectoral front , most of the indices are trading in red. Teck Index is trading as the major gainer with gains of more than three-forth of a percentage point. This is followed by IT Index which is trading with the gains of more than one – third of a percentage point. On the other hand, Auto Index is the biggest looser with the loss of more than one and one-third of a percentage point followed by Capital Goods Index, which is trading with the loss of one and a quarter of a percentage point.
Further, the market breadth is negatively placed as one stock is seen advancing against three declining stocks.
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