Morning Summary, Market Synopsis: 18th January, 2013 ,

Good Morning Everyone,
The major Indian equity benchmarks started the day with a gap up and inched upwards to touch a fresh twenty four months high. Currently they are consolidating the gains made. This was on the back of a strong rally in the government owned oil companies .The decision of the petroleum minister allowing state owned oil marketing companies to tweak the diesel prices can help these companies reduce their under recoveries.This has led the Sensex to trade near the level of 20086.49 i.e., up by 122.46 points & the Nifty to trade near the level of 6074.95 i.e. up by 35.25 points. The midcap index and the small cap index are trading in positive zone with the gain of less than half of a percentage point and quarter of a percentage point respectively. On the sectoral front the indices are trading mixed. Oil & Gas index is the biggest gainer with the gains of nearly three and a half percentage points, followed by PSU Index , which has gained more than three percentage point. On the other hand Auto index is the biggest looser with the loss of nearly one percentage point. Further, the market breadth is positively placed as four stocks are seen advancing for three declining stocks.