The major Indian equity benchmarks started the day on a flat note on May 2, 2013. Though US markets were negative on Wednesday with major indices closing with almost one percent cuts on weaker than expected economic data even as the Fed plans to maintain its stimulus program. European markets ended mixed. While Asian markets were trading on a cautious note today. The Indian markets opened steady on the back of overnight fall in commodity prices which proves to be beneficial for our economy and in turn the market. Auto stocks were reeling under April auto sales number. The new financial year started on a mixed note for car makers with leading firms, including Maruti Suzuki , Mahindra & Mahindra , Honda Cars and General Motors, reporting growth in domestic sales in April. However, other manufacturers such as Hyundai Motor, Tata Motors, Toyota Kirloskar and Ford India, witnessed decline in sales during the month.All these have led the Sensex to trade near the level of 19548.67i.e.up by 50.36 points & the Nifty to trade near the level of 5948.90 i.e. up by 18.70 points. The Midcap index and small cap Index are trading in green with the gain of nearly four-tens of a percentage point and five-tens of a percentage point respectively. On the sectoral front, all the indices, except two are trading in green. IT Index is trading as the biggest gainer with the gain of nearly one and a half of a percentage point. This is followed by Teck Index which is trading with the gain of nearly one percentage point. On the other hand, FMCG Index is the biggest loser with a loss of nearly half of a percentage point.
Further, the market breadth opened positive as three stocks were seen advancing against two declining stocks.
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