Morning Summary, Market Synopsis: 24th January, 2013

Good Morning Everyone..
The major Indian equity benchmarks started the day on a weak note and then turned down. Currenly they are trading lower than the opening level. The market participants are cautious as they are waiting for a trigger to firm up their views. The next big event is RBI’s credit policy review meet to be held on Tuesday. In the absence of trigger currently, market is trading sideways looking for direction. This has led the Sensex to trade near the level of 19971.13 i.e., down by 55.48 points & the Nifty to trade near the level of 6030.4i.e.,down by 23.9 points. The midcap index and the small cap index are trading in negative with the loss of nearly one and a half percentage point and nearly one percentage point respectively. On the sectoral front the indices are trading mixed. IT index is the biggest gainer with the gains of nearly one percentage point. On the other hand Realty index is the biggest looser with the loss of nearly four percentage points, followed by Auto index with the loss of more than two and a three forth percentage point. Further, the market breadth is considerably negatively placed as one stock is seen advancing for five declining stocks.