As anticipated, frontline indices opened negative in the early trade, tracking a broad-based decline in Asian markets. Soon after the negative opening, the market tried to reduce losses but could not hold and dropped down again. S&P's downgrade of nine Eurozone nations has raised fears of the region's long-running debt crisis and its implications on the global economy. The midcap indices are trading negative whereas the small-cap indices are trading positive. On the sectoral front, with exception to IT, Teck & FMCG, all the other indices are trading in red. Oil&Gas, Healthcare, Capital Goods, Bank and Metal indices are leading the list of losers. Further, the Market breadth is even negative as only five stocks are seen advancing for every eight declines.
(Pic. Source- bseindia.com)
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