The major Indian equity benchmarks started the day on a negative note with a gap down on June 13, 2013. Market opening with gap down has become a trend for last few days This was on the back of international cues . In US , Dow ends below 15000. It logs first three day drop in 2013. On the other hand Asian markets crashed on Thursday as the prospect of less stimulus from central banks depressed sentiment, while the US dollar fell further against the yen amid uncertainty over the Federal Reserve's policy outlook.Post opening, Indian benchmarks are seen recovering the losses but the demand force does not seem sufficient enough to carry it to the green zone. Despite opposition from key ally, NCP leader and Agriculture Minister Sharad Pawar, the UPA is set to push through the Food Security ordinance at the Cabinet meet on Thursday. O the other hand global rating agency Fitch has upgraded the country’s sovereign credit outlook to stable from negative. All these led the Sensex to trade near the level of 18849.05 i.e. down by 192.08 points & the Nifty to trade near the level of 5706.50 i.e. down by 53.70 points. The Midcap index and small cap index are both trading in red with the loss of half a percentage point and one-third of a percentage point respectively. On the sectoral front, all the indices except one are trading in red. The Consumer Durables Index is trading as the biggest gainer with the gain of more than two and one-third of a percentage point. On the other hand, Auto index is the biggest loser with the loss of one and nine-tens 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 three stocks were seen advancing against seven declining stocks.
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