Monday 6 May 2013

Morning Summary, Market Synopsis: 6th May, 2013


The major Indian equity benchmarks started the day on flat note on May 5, 2013. This is in spite of strong US markets, where the S&P 500 broke 1600 on Friday, the Dow hit 15000 intra-day as indices cheered the better than expected non-farm payrolls data. Europe too rallied to 5-year highs. On the other hand Asian markets had started on a positive note today. Post opening, benchmarks were seen trading in a similar range, albeit, with some negative bias. The RBI policy , which dampened the sentiment of the market is history and is out of the way. Now market will be focusing on individual stocks based on their quarterly performance. All these have led the Sensex to trade near the level of 19570.70i.e.down by 3.84 points & the Nifty to trade near the level of 5937.10. I.e. down by 6.90 points. The Midcap index and small cap Index are trading in green with the gain of nearly two-tens of a percentage point and six-tens of a percentage point respectively. On the sectoral front, the indices are trading mixed. The IT Index is trading as the biggest gainer with the gain of nearly one and three-tens of percentage point. This is followed by the Metal Index which is trading with the gain of nearly one and two-tens of percentage point. On the other hand, Bankex Index is the biggest loser with the loss of one and a half percentage point.

Further, the market breadth opened positive as four stocks were seen advancing against three declining stocks.

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