The key Indian equity benchmarks rallied in the opening minutes of trade, with the Nifty surpassing 5200 and the Sensex accelerating above 17,200. This sudden spark is seen as the Government sought to ease concerns over GAAR and as the EU leaders in Brussels proposed a common financial supervisor. At the moment, the Large-Caps are spearheading the advance with the broader indices lagging slightly. However, the overall undercurrent remains upbeat. The Sensex is currently trading near the level of 17340 i.e., up by nearly 350 points and the Nifty is trading near the level of 5250 i.e., up by nearly 100 points. This has led the midcap and the small-cap counters to trade positive by nearly a percentage point each. On the sectoral front, all the indices are trading in green. Capital Goods, Power, Bank and FMCG indices are leading the list of gainers with gains of over two percentage points each. Further, the market breadth is positive as four stocks are seen advancing for every one decline.
(Pic. Source- bseindia.com)
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