The Indian benchmarks ended on a positive note on May 06, 2013. After opening flat, they traded with a negative sentiment for some time, but soon recovered and started gaining ground. In the early part of the day, the disclosures by Cobra post dominated the day. But soon benchmarks shrugged off their early reluctance and started looking up. This was in spite of the fact thatthe Economic data was weak. HSBC Services Purchasing Managers' Index, tracking India’s services growth fell to 50.7 in April from 51.4 in March, its lowest since October 2011 and the weakest reading in the current expansion cycle. The growth eased during April as new orders came in at a much slower pace. All these led the Sensex to close at the level of 19673.64 i.e. up by 98.00 points and the Nifty to close at the level of 5971.05 i.e. up by 27.05 points. The midcap index and the small cap index closed in green with a gain of nearly one and two-tens of a percentage point and one percentage point respectively. On the sectoral front, the indices closed mixed. Metal Index was the biggest gainer with the gain of nearly two percentage point. This was followed by IT Index which closed with a gain of nearly one and nine-tens of a percentage point. On the other hand FMCG Index closed as the major loser with a loss of nearly eight-tens of a percentage point.
Further, the market breadth closed positive as five stocks were seen advancing against three declining stocks.
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