The major Indian equity benchmarks started the day with a substantial gap up on the back of Infosys announcing better than expected Q3 results. India's second largest software services exporter, surprised the street by raising its full year earning guidance , contrary to most analysts who were expecting a cut. But post firm opening, market started losing ground and has been waiting for announcement of IIP data. This has led the Sensex to trade near the level of 19743.19 i.e., up by 79.64 points & the Nifty to trade near the level of 5983.8 i.e., up by nearly 15.15 points. The midcap index is trading in negative zone with the loss of nearly half a percentage point , while the small cap index is trading marginally in negative with the loss of less than quarter of a percentage point. On the sectoral front most of the indices are trading in red ,except few. IT index was the biggest gainer with the gains of more than seven percentage point, followed by Teck Index , which gained by more than five percentage point. On the other hand FMCG index is the biggest losers with the loss of nearly quarter of a percentage point. Further, the market breadth Is negatively placed as five stocks are seen advancing for every eight declining stocks.
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