The Indian benchmarks ended on a very strong note on April 16, 2013. After opening flat, they started scaling new highs every hour of the day. The falling gold prices and crude prices helped traders believe that the current account deficit may get cut down. The falling inflation number announced yesterday also rekindled the hope that RBI can turn aggressive in its meet to be held on May 3rd and can cut interest rate by fifty basis points. All these led the Sensex to close at the level of 18744.93 i.e. up by 387.13 points and the Nifty to close at the level of 5688.95 i.e. up by 120.55 points. The midcap index and the small cap index closed in green with the gain of nearly nine-tenth of a percentage point and four-tenth of a percentage point respectively. On the sectoral front, the indicies closed mixed. Bank Index was the biggest gainer with the gain of nearly three percentage point. This was followed by Auto Index which closed with the gain of slightly more than two and half a percentage point. On the other hand IT Index closed as the biggest looser with the loss of half a percentage point.
Further, the market breadth closed positive as five stocks were seen advancing against three declining stocks.
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