The major Indian equity benchmarks started the day on a weaker note on May 3, 2013. This is in spite of US markets finishing near session highs on Thrusday, propelling the S&P 500 to a fresh intraday high, as Wall Street cheered a better-than-expected jobless claims report and after the European central bank cut its key interest rate. While major Asian markets were trading higher. Market players are waiting for the outcome of RBI policy meet. It is widely expected that RBI will reduce twenty five basis point of repo rate. On the other hand Bharti Airtel entered into a long-term strategic investment from Qatar Foundation endowment. Qatar Foundation is to buy 5 percent stake in the company at Rs 340 per share. All these have led the Sensex to trade near the level of 19661.17i.e.down by 66.49 points & the Nifty to trade near the level of 5977.20. I.e. down by 22.15 points. The Midcap index is trading in red with a loss of nearly three-tens of a percentage point and the small cap Index is trading in green with the gain of nearly one-tens of a percentage point. On the sectoral front, the indices are trading mixed. Teck Index is trading as the biggest gainer with the gain of nearly seven-tens of a percentage point. This is followed by the IT Index which is trading with the gain of six-tens of percentage point. On the other hand, Realty Index is the biggest loser with the loss of nearly one and two-tens of a percentage point.
Further, the market breadth opened negative as five stocks were seen advancing against nine declining stocks.
No comments:
Post a Comment