The major Indian equity benchmarks started the day on a flat note on July 1, 2013 on the back of y some positive inflow of FIIs after several days in spite of slightly negative international cues. It was a negative session for US markets on Friday following concerns that Fed may consider tapering its QE program as early as September. European markets too closed in the red. Asian markets were cautious in morning trade on Monday. Chinese manufacturing data showed a continued slowdown in factory activity, China's official Purchasing Managers' Index for June came in at 50.1, though slightly better than the of 50, but still a decline from May’s reading of 50.8. Some pullback in the rupee is visible and is helping the sentiment in the market. Market will also be watching June Auto numbers that will be announced today. It is expected that the volumes will continue to remain slow across most industry segments. Car industry volumes are seen declining by 13-14 percent while 2-wheeler volumes may remain flattish year on year.
All these led the Sensex to trade near the level of 19742.24i.e. up by 76.43 points & the Nifty to trade near the level of 5861.40 i.e. up by 19.20 points. The Midcap index and small cap index are trading in green with the gain of nearly one percentage point and nearly three-fourth of a percentage point respectively. On the sectoral front, all the indices except three are trading in green. The Power Index is trading as the biggest gainer with the gain of more than one and six-tenth of a percentage point. This is followed by the Capital Goods Index which is trading with the gain of almost one and half a percentage point. On the other hand IT index is the biggest loser with the loss of more than nine-tens of a percentage point.
Further, the market breadth opened positive as five stocks are seen advancing against two declining stocks.