The major Indian equity benchmarks started the day on a flat note on May
17, 2013.The international cues were relatively weak. US markets ended near session lows on
Thursday pressured by downbeat economic data and on talks of Fed tapering their
bond-buying program in the coming months and Europe too ended flat. Asian
markets were subdued in morning trade on Friday. South Korea & Hong Kong
markets remain shut today. Indian benchmarks are consolidating the gains that
they have made in last couple of weeks and consistent buying by Foreign
Institutional Investors is keeping the sentiment upbeat. JM
Financials hit 52-week high at Rs 27.50, up 15.7 percent on the BSE. Former
chief executive officer of Citigroup Inc Vikram Pandit and Hari Aiyar announced
to buy stake in JM Financial through warrants. The company sought to strengthen
its case for a banking license by roping in former Citigroup CEO Vikram Pandit.
All these have led the Sensex to trade near the level of
20234.33i.e.down by 13.00 points & the Nifty to trade near the level of
6145.45. I.e. down by 6.45 points. The Midcap index and small cap index are
both trading in green with the gain of nearly one-tens of a percentage point. On
the sectoral front, the indices are trading mixed. The IT Index is trading as
the biggest gainer with the gain of nearly eight-tens of a percentage point.
This is followed by the Realty Index which is trading with the gain of nearly
six-tens of a percentage point. On the other hand, Consumer Durables Index is the
biggest loser with the loss of nearly seven-tens of a percentage point.
Further, the market breadth
opened neutral as one stock was seen advancing against each declining stock.
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