The major Indian equity benchmarks started the day on a flat note on April 5, 2013 and are seen trading in the similar range. Sugar shares surged in early trade on Friday following the Cabinet decision late yesterday to decontrol sugar sales. However, markets were jittery as there was steep fall in large cap stocks in recent days. Even the news that foreign owned exchange traded funds who are investing in India are seeing redemption pressures. This in turn is capable of triggering selling by other funds before the stock price declines. This led the Sensex to trade near the level of 18486.44 i.e. down by 23.26 points & the Nifty to trade near the level of 5568.2 i.e. down by 6.55 points. The Midcap index and the small cap index are trading in green with the gain of more than four-tenth of a percentage point and slightly more than half a percentage point respectively. On the sectoral front, the indices are trading mixed. Realty Index is trading as the biggest gainer with the gains of nearly one and four-tenth of a percentage point. This is followed by Oil & Gas Index which is trading with the gain of one percentage point. On the other hand, FMCG Index is the biggest looser with the loss of one percentage point.
Further, the market breadth is positively placed as eight stocks were seen advancing against five declining stocks.
Further, the market breadth is positively placed as eight stocks were seen advancing against five declining stocks.
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