Good Morning Everyone,
The major Indian equity benchmarks started the day flat and were seen looking for direction as they were moving in a narrow band. Today,CPI for Combined, Rural, and Urban for January will be announced. There will also be the announcement of Index of Industrial Production for December. The next RBI policy meet is post budget presentation , hence, RBI governor will also have to consider budget proposals for recommending a further rate cut. Thus this time’s IIP figures will not derive much importance for rate redction by RBI . Thus a sideward movement in benchmarks is on. All this led the Sensex to trade near the level of 19518 i.e. up by 57.43 points & the Nifty to trade near the level of 5905.05 i.e. down by 7.20 points. The Midcap index and the Small Cap index are trading in red with the loss of six tenth of a percentage point and three tenth of a percentage point respectively. On the sectoral front , the indices are trading mixed. Oil & Gas Index is trading as the major gainer with gains of nearly nine-tenth of a percentage point. This is followed by PSU Index which is trading with the gains of more than eight-tenth of a percentage point. On the other hand, Realty index is the biggest looser with the loss of nearly five and a half percentage point.
Further, the market breadth is neutrally placed as three stocks are seen advancing against five declining stocks.
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