Morning Summary- Market Synopsis- 22 December, 2011

The Indian indices resumed their downward journey after the steep rally witnessed yesterday. The frontline indices opened with a loss of around one percentage point on the back of weak global cues. Yesterday, the ECB announced that it had injected €489.19bn into the region's banks to address the eurozone debt crisis. However, doubts remained over how much of the funds will actually flow into struggling euro zone economies and help restore confidence. The rupee, which advanced yesterday, is also down today versus the US dollar. Sectorally most of the indices were seen trading in the negative with Technology stocks losing over two percent. FMCG, Healthcare and Power managed to stay in the positive in this weak markets. Market breadth was weak and five stocks advanced against every eight declines.
(Pic. Source- bseindia.com)