Good Morning Everyone,
The major Indian equity benchmarks started the day on a weak note tracking the fall in overseas market. However they soon recovered and started trading in green. The markets in US ended down on Thursday on fears of an end to US Federal Reserve's quantitative easing, dismal weekly jobless claims, and a drop in the Federal Reserve Bank of Philadelphia's general economic index. All this had its impact on the market. Any recovery in indices may be short-lived as investors would keep positions light ahead of the Union Budget next week. This led the Sensex to trade near the level of 19314.28 i.e. down by 11.08 points & the Nifty to trade near the level of 5842.9 i.e. down by 9.35 points. The Midcap index is trading with the loss of twelve basis points of a percentage while the small cap index is trading with the gain of three basis points of a percentage . On the sectoral front , the indices are trading mixed. Teck Index is trading as the major gainer with gains of more than one and one-tenth of a percentage point. On the other hand, Consumer Durables Index is the biggest looser with the loss of nearly one and two-tenth of a percentage point. This is followed by Auto Index which is trading with the loss of nearly one and one –tenth of a percentage point.
Further, the market breadth is negatively placed as two stocks are seen advancing against three declining stocks.
The major Indian equity benchmarks started the day on a weak note tracking the fall in overseas market. However they soon recovered and started trading in green. The markets in US ended down on Thursday on fears of an end to US Federal Reserve's quantitative easing, dismal weekly jobless claims, and a drop in the Federal Reserve Bank of Philadelphia's general economic index. All this had its impact on the market. Any recovery in indices may be short-lived as investors would keep positions light ahead of the Union Budget next week. This led the Sensex to trade near the level of 19314.28 i.e. down by 11.08 points & the Nifty to trade near the level of 5842.9 i.e. down by 9.35 points. The Midcap index is trading with the loss of twelve basis points of a percentage while the small cap index is trading with the gain of three basis points of a percentage . On the sectoral front , the indices are trading mixed. Teck Index is trading as the major gainer with gains of more than one and one-tenth of a percentage point. On the other hand, Consumer Durables Index is the biggest looser with the loss of nearly one and two-tenth of a percentage point. This is followed by Auto Index which is trading with the loss of nearly one and one –tenth of a percentage point.
Further, the market breadth is negatively placed as two stocks are seen advancing against three declining stocks.
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