The major Indian equity benchmarks started the day on a firm note and indicies were trading In the similar range. The mood is upbeat as the government was willing to take bold measures to reduce the fiscal deficit. This was clear from the announcement of hike in rail fares before the railway budget. However traders are cautious to add positions at higher levels as they are waiting for impending economic data and corporate results. This has led the Sensex to trade near the level of 19717.11 i.e., up by 50.52 points & the Nifty to trade near the level of 5987.15 i.e., up by nearly 15.65 points. The midcap index and the small cap index are trading marginally in positive with the gains of more than quarter of a percentage point. On the sectoral front most of the indices are trading in green. PSU index and Oil & Gas index were trading with the highest gains of more than one percentage point. On the other hand Capital Goods index and Health Care Index are the biggest loosers with the loss of nearly quarter of a percentage point. Further, the market breadth Is positively placed as two stocks are seen advancing for every declining stock.
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