Market Synopsis: 17th January, 2013

The Indian benchmarks ended on a firm note on January 17, 2013. The day had started stable and after initial correction in the early part of the day, benchmarks reversed its direction .The market shrugged off early cautiousness and started consolidating. The announcement made by petroleum ministry authorizing oil marketing companies (OMC) to make fuel price corrections from time to time helped the sagging market trend and the benchmarks firmly moved upward. The OMCs are expected to make a price-hike announcement tonight. The ministry also allowed raising LPG subsidy cap to 9 cylinders from 6 cylinders earlier. This led the Sensex to close at the level of 19964.03 i.e up by 146.03 points and the Nifty to close at the level of 6039.2 i.e. up by 37.35 points. The midcap index closed with a gain of quarter of a percentage point and the small cap index closed marginally in negative. On the sectoral front most of the indices, except few, closed in green. Oil & Gas index closed as the biggest gainer with the gains of more than three percentage points, followed by Realty Index , which closed with the gains of more than two percentage points. On the other hand Consumer Durables index closed as the biggest looser with the loss of more than half of a percentage point. Further, the market breadth Is slightly negatively placed , as seven stocks were seen advancing against eight declining stocks. Find out more at :http://www.facebook.com/bmawealth?sk=app_206541889369118

(source:bseindia.com)