The major Indian equity benchmarks started the day on a weaker note on June 19, 2013. This was in spite of a strong US markets. US markets finished near session highs on Tuesday ahead of the all important FOMC decision due later tonight. The Dow soared nearly 150 points. European markets closed mixed. Asian markets mirrored Wall Street gains on in the morning trade on Wednesday; Japanese market was up almost 2 percent. The markets are waiting for the outcome of the FOMC meet, which is expected before we start the trading day tomorrow. The depreciation in rupee is a prime concern for the foreign investors. On the other hand, in a path breaking move the Mayaram Panel recommended abolishing 26 percent cap for foreign direct investment (FDI). The panel wants the minimum limit for FDI across sectors to be set at 49 percent. Also, it has recommended fully opening up of sectors with a 74 percent FDI cap . All these led the Sensex to trade near the level of 19107.87 i.e. down by 115.41 points & the Nifty to trade near the level of 5782.20 i.e. down by 30.35 points. The Midcap index and the small cap index are trading in green with the gain of nearly one third of a percentage point each. On the sectoral front, the indices are trading mixed with negative bias. The consumer Durable Index is trading as the biggest gainer with the gain of nearly half a percentage point. On the other hand, PSU index is the biggest loser with the loss of nearly eight-tens of a percentage point. This is followed by the Oil & Gas Index which is trading with the loss of two-third of a percentage point.
Further, the market breadth opened slightly positive as five stocks are seen advancing against four declining stocks.
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