As anticipated, the main Indian stock indices opened on a flat note and are trading with minor gains in early morning session. The broader indices too are more or less subdued. The undertone is cautious after the persistent fall witnessed in the past couple of months. The macro-economic environment has worsened, both locally and globally. In addition, the proposed GAAR provisions coupled with the long-running tax dispute with Vodafone and the perennial mess in the telecom sector have put-off FIIs. The weakness in the Rupee is also adding to the gloom, even as overseas markets continue to reel under the eurozone mess. Meanwhile, the midcap and the small-cap counters are trading flat to positive. On the sectoral front, except for Oil&Gas and FMCG indices, all the other indices are trading in green. Metal index is leading the list of gainers with gains of over a percentage point each. Further the market breadth is positive as five stocks are seen advancing for every four declines.
(Pic. Source- bseindia.com)
No comments:
Post a Comment