Thursday 4 July 2013

Morning Summary,Market Synopsis: 4th July, 2013


The major Indian equity benchmarks started the day with a small gap up on July 4, 2013. This was on the back of the steady international markets and since benchmarks had corrected the recent rise to an extent, a natural pullback. It was a lackluster session on Wall Street on Wednesday as investors await the important US jobs data due on Friday. European markets closed with around 1 percent cut amid political turmoil in Portugal. Asian markets were trading mixed on Thursday morning. US markets will remain closed today on account of their Independence Day. On the Indian shores, Cabinet has cleared Food Ordinance Bill. The Bill will have to be passed by Lok Sabha & Rajya Sabha. Govt will try to get LS & RS nod during monsoon session. Food subsidy outgo due to food bill will be at at Rs 1.24 lakh cr for FY14. All these led the Sensex to trade near the level of 19311.88 i.e.up by134.12 points & the Nifty to trade near the level of 5808.70 i.e. up by 37.80 points. The Midcap index and small cap index are trading in green with the gain of fourteen basis points of a percentage point and more than quarter of a percentage point respectively. On the sectoral front, the indices are trading mixed with positive bias. The Consumer Durable Index is trading as the biggest gainer with the gain of nearly one and nine-tenth of a percentage point. This is followed by the IT Index which is trading with the gain of one and three-tens of a percentage point. On the other hand Metal index is the biggest loser with the loss of nearly half a percentage point.

Further, the market breadth opened negative as three stocks are seen advancing against two declining stocks.

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