The market closed in the red for the fifth trading session. Markets erased early morning gains and were on a constant declining trend throughout the day. The investors seemed cautious amid cloudy outlook for monsoon and its impact on the sluggish Indian economy. In addition, the enthusiasm over a possible rate cut has been dampened after the RBI Governor said that inflation remains beyond the central bank's comfort levels. Moreover, the investors await the much-anticipated testimony of Fed Chairman Bernanke later today. Thus, the Sensex closed at the level of 17105.3 i.e., down by 1.99 points and the Nifty closed at the level of 5192.85 i.e., down by 4.40 points. This led the midcap and the small-cap counters to close negative by over half a percentage point each. On the sectoral front, except for FMCG, Healthcare and Consumer Durables indices, all the other indices closed in red. Auto, Realty and Power indices closed as the major losers with losses of over a percentage point each. Further, the market breadth closed negative as only one stock was seen advancing for every two declines. Find out more at :http://www.facebook.com/bmawealth?sk=app_206541889369118
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