The key Indian stock indices declined in early morning trade, tracking weakness in other Asian markets and overnight losses on Wall Street. The undertone has been hit by concerns that a global economic slowdown will hurt corporate earnings. The sentiment in the domestic market is also cautious ahead of May IIP. Further, the results from IT giants TCS and Infosys will also check the investors' behavior. However, the next trigger for further ascent is only likely to come from positive movement on the policy front post the presidential elections. The Sensex is currently trading near the level of 17560 i.e., down by nearly 60 points and the Nifty is trading near the level of 5330 i.e., down by nearly 15 points. But despite this the midcap and the small-cap counters are trading positive. On the sectoral front, the indices are trading mixed. Consumer Durables index is leading the list of gainers with gains of over half a percentage point while FMCG, Auto and Realty indices are leading the list of losers with losses of over half a percentage point each. Meanwhile, the market breadth is still positive as two stocks are seen advancing for every one decline.
(Pic source: bseindia.com)
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