As anticipated, the key Indian stock indices lost some ground in early morning trade. Reduced chance of QE3 and worries over Spain's deteriorating financial condition are weighing on the sentiment ahead of the long weekend. The disappointing Government bond auction yesterday and its impact on yields is another cause for concern. The near-term direction of the market is expected to hinge upon the RBI's move or lack of it on April 17. Meanwhile, the midcap and small-cap counters are trading flat. On the sectoral front, except for Power index, all the other indices are trading in red. Metal, Realty and Bank indices are leading the list of losers with losses of over a percentage point each. Further, the market breadth is negative as only four stocks are seen advancing for every five declines.
(Pic. Source- bseindia.com)
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