The major Indian equity benchmarks started the day on a negative note with a gap down on June 11, 2013.This was on the back of international cues and increasing weakness in rupee. US markets closed narrowly in mixed choppy trading as investors seemed to take a breather following last week’s sharp rally and amid worries over the Federal scaling back its stimulus program. The Dow closed flat despite ratings agency, S&P raising its sovereign credit outlook to “stable” from “negative.” In India the rupee has touched a record low of 58.70 per dollar in opening trade on Tuesday due to heavy dollar buying, as against previous day's closing of 58.15 per dollar. This has created quite a volatile movement in the markets. The traders are cautious and are waiting for rupee to stabilize. All these led the Sensex to trade near the level of 19323.33 i.e. down by 117.74 points & the Nifty to trade near the level of 5841.65 i.e. down by 36.35 points. The Midcap index and small cap index are both trading in red with the loss of six-tens of a percentage point and seven –tens of a percentage point respectively. On the sectoral front, all the indices except one are trading in red. The IT Index is trading as the only gainer with the gain of two-third of one percentage point.. On the other hand, Realty Index is the biggest loser with the loss of nearly one and half of a percentage point. This is followed by the Metal Index which is trading with the loss of nearly one and four-tens of a percentage point.
Further, the market breadth opened negative as one stock was seen advancing against three declining stocks.
Further, the market breadth opened negative as one stock was seen advancing against three declining stocks.
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