Wednesday, 20 March 2013

Morning Summary,Market Synopsis : 20th March, 2013

The major Indian equity benchmarks started the day on a weak note with a gap down opening  on weak overseas cues, and as political uncertainty after the Dravida Munnetra Kazhagam's pullout from the United Progressive Alliance government  remained an overhang in the short term. Key Asian indices were mixed after the Cyprus parliament on Tuesday voted against a proposal to tax bank deposits. In the initial stage markets were sluggish but soon found support and started inching upward from the important support zone. This led the Sensex to trade near the level of 19001.88 i.e. down by 6.22 points & the Nifty to trade near the level of 5736.55 i.e. down by 9.40 points. The Midcap index and the small cap index are trading in red with the loss of one-third of a percentage point each and nearly three-tenth of a percentage point respectively. . On the sectoral front, the indices are trading mixed. FMCG Index is trading as the largest gainer with the gains of six-tenth of a percentage point. On the other hand, Consumer Durables Index is the biggest looser with the loss of six-tenth of a percentage point. This is followed by PSU Index which is trading with the loss of more than half a percentage point.
 Further, the market breadth is negatively placed as one stock was seen advancing against two declining stocks.

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