Friday, 14 June 2013

Morning Summary, Market Synopsis: 14th June, 2013

The major Indian equity benchmarks started the day on a positive note with a gap up on June 13, 2013. This was on the back of international cues . In US , Stocks rallied on Thursday after three days of losses as stronger-than-expected economic data helped reassure investors concerned about the expected winding down of the Federal Reserve's economic stimulus. Asian Markets are also trading positive on the back of the cues from US. Nikkei is trading with the gain of more than two and half a percentage point. Coming to the Indian shores, Wholesale price index (WPI) for the month of May is likely to be around 4.8 percent; close to the 4.89 percent that was recorded for the month of April .This announcement is expected to be around 11.30 am. Rupee is also strengthening and helping the sentiment to be positive. As benchmarks are in the over sold zone , Little buying has propped up the levels. All these led the Sensex to trade near the level of 19044.58 i.e. up by 217.42 points & the Nifty to trade near the level of 5769.35 i.e. up by 70.25 points. The Midcap index and small cap index are both trading in green with the gain of more than one and one-tens of a percentage point and nearly one percentage point respectively. On the sectoral front, all the indices except one are trading in green. The Realty Index is trading as the biggest gainer with the gain of nearly two and four-tens of a percentage point. This is followed by the Consumer Durables Index which is trading with the gain of nearly two and a quarter of a percentage point. On the other hand, IT index is the biggest loser with the loss of eleven basis points of a percentage point.

Further, the market breadth opened considerably positive as three stocks were seen advancing against each declining stock.

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