The major Indian equity benchmarks started the day on a negative note with a gap down on June 12, 2013.This was on the back of international cues . US Stocks slid in a volatile session on Tuesday after Japan's central bank disappointed equity markets by holding its monetary policy steady. After the Bank of Japan left its key policy unchanged, investors are now waking up to the fact that there could be no additional stimulus. Japan is down almost two percent this morning. China, Hong Kong and Taiwan markets are shut today. Post opening, Indian benchmarks are seen recovering the losses as some short covering is taking place. Two important data points- index of industrial production (IIP) and consumer price index (CPI) will be released today. April IIP is seen at 2.7%. Capital goods are expected to do better. May CPI is seen lower at 8.9% versus 9.39% month on month. All these led the Sensex to trade near the level of 19091.25 i.e. down by 51.75 points & the Nifty to trade near the level of 5776.80 i.e. down by 12 points. The Midcap index and small cap index are both trading in red with the marginal loss of fourteen basis points of a percentage point and seven basis points of a percentage point respectively. On the sectoral front, the indices are trading mixed. The Oil & Gas Index is trading as the biggest gainer with the gain of more than three-fourth of a percentage point. On the other hand, Consumer Durables index is the biggest loser with the loss of four and three-fourth of a percentage point. This is followed by the FMCG Index which is trading with the loss of nearly one and quarter of a percentage point.
Further, the market breadth opened negative as five stocks were seen advancing against seven declining stocks.
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