Good Morning Everyone,
The major Indian equity benchmarks started the day with a gap down on April 8, 2013 on the back of weak international cues arising out of the worst one week decline of US’s major indicies in this year. Asian markets were mixed in morning trade. The Japanese index mounted another rally after the stellar move on Friday post the BoJ policy announcement and investors were very encouraged about BoJ plans to buy longer dated bonds immediately to beat deflation. Thus Indian benchmarks, after starting weak, immediately stabilized and were seen trading sideways. Market was sluggish as earnings were expected to be lacklusture. This led the Sensex to trade near the level of 18450.97 i.e. up by just 0.67 points & the Nifty to trade near the level of 5552.1 i.e. down by 1.15 points. The Midcap index and the small cap index are trading in green with the gain of more than one-fifth of a percentage point and slightly more than one-third of a percentage point respectively. On the sectoral front, the indices are trading mixed. PSU Index is trading as the biggest gainer with the gains of thirty eight basis points of a percentage point. This is followed by Auto Index which is trading with the gain of thirty-six basis points of a percentage point. On the other hand, IT Index is the biggest looser with the loss of nearly two-third of a percentage point.
Further, the market breadth is positively placed as five stocks were seen advancing against four declining stocks.
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