The major Indian equity benchmarks started the day with a big gap down on June 20, 2013 on the back of outcome of FED meet. US markets dropped over a percent on Wednesday on the possibility of Fed tapering its bond purchase program. Treasury prices fell after the announcement with the benchmark 10-year yield hitting its highest level since 2011. European markets also ended lower in thin and choppy trading. Asian markets opened lower on Thursday by less than half a percent. US Federal Reserve Chairman Ben Bernanke's statement that the Fed would start reducing its stimulus measures later this year if the economy is strong enough has forced the market to go down and rupee to weaken drastically. Even the bond market has come to a trading halt. The Indian rupee opened today at a new all time low. It has opened at 59.60 per dollar versus 58.70 Wednesday. All these led the Sensex to trade near the level of 18875.83 i.e. down by 369.87 points & the Nifty to trade near the level of 5702.25 i.e. down by 120 points. The Midcap index and the small cap index are trading in red with the loss of nearly one and one third of a percentage point and one percentage point respectively. On the sectoral front, all the indices except one are trading in red. The IT Index is trading as the biggest gainer with the marginal gain of seven basis points of a percentage point. On the other hand, Realty index is the biggest loser with the loss of three and six-tens of a percentage point. This is followed by the Metal Index which is trading with the loss of more than three and half of a percentage point.
Further, the market breadth opened considerably negative as one stock is seen advancing against three declining stocks.
Further, the market breadth opened considerably negative as one stock is seen advancing against three declining stocks.
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