As anticipated, the main Indian stock indices opened on a subdued note and are currently trading with minor losses. The market seems to be stepping back slightly after the previous session's stellar gains and a fantastic start to the year. The undertone is cautious after the fiscal deficit reached more than 90% of the FY12 goal. However, data from the US showed some softening amid ongoing worries about the eurozone. Even China's manufacturing PMI reports have been mixed. Further, South Korea swung to its first trade deficit in two years and Australia's home prices fell the most on record in 2011. With so much of mixed data floating, the market is expected to remain volatile. The midcap and small-cap counters are trading flat to positive. On the sectoral front, indices are trading mixed. Auto index is leading the list of gainers, whereas, Consumer Durables and Realty indices are leading the list of losers. Further, the market breadth is slightly positive as three stocks are seen advancing for every two declines.
(Pic. Source- bseindia.com)
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