Good Morning Everyone,
The major Indian equity benchmarks started the day on a weak note as Asian markets were trading mixed, with Hong Kong and Japan markets succumbing to profit booking after the recent rally. After opening , the benchmarks slid further down. They are expected to trade in a narrow band as investors will refrain from taking aggressive positions ahead of the Reserve Bank of India's mid-quarter policy review scheduled next week. This led the Sensex to trade near the level of 19450.89 i.e. down by 114.03 points & the Nifty to trade near the level of 5878.05 i.e. down by 36.05 points. The Midcap index and the small cap index are trading in red with the loss of half a percentage point each.. On the sectoral front, except two, all the indices are trading in red. FMCG Index is trading as the major gainer with gains of four-tenth of a percentage point. On the other hand, Consumer Durables Index is the biggest looser with the loss of one and one-tenth of a percentage point. This is followed by Auto Index which is trading with the loss of nearly one percentage point.
Further, the market breadth is negatively placed as one stock was seen advancing against two declining stocks.