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As anticipated, the major Indian indices opened the day in green. The unexpected 50 basis points cut in the policy rates by RBI and the firm demand at Spanish debt sales has provided the market the much needed boost, which was missing from many days. Meanwhile, midcap and the small-cap counters are trading positive by over a percentage point each. On the sectoral front, except for FMCG index, all the other indices are trading in green. Consumer Durables and Auto indices are leading the list of gainers with gains of over one and a half percentage points each. Further, the market breadth is positive as seven stocks are seen advancing for every two declines.
(Pic source- bseindia.com)
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