FMCG sector was the major loser of the day - ZEN Money

Domestic indices opened the session on a positive note following firm global cues. Market sentiment remained positive after Moody's statement that Indian economy is expected to pick up and grow in the range of 5.5-6.5 percent in 2013. Indices extended their gains on the back of rate cut hopes along with the favorable news for FIIs, as the newly appointed Law Minister cleared a SEBI regulation which permits put and call options in mergers and acquisitions. However, the gains remained capped as Moody's noted that the Current Account Deficit (CAD) remains a persistent concern for India. Sustained flows by foreign institutional investors for the past few days also provided some support to the markets. Markets witnessed range bound trading in the afternoon session on account of mixed trading in front line blue chip counters and ended the day with marginal gains.

On the sectoral front, Realty, Oil & Gas, HealthCare and banking sectors witnessed buying interest in the markets. CG, Metals and Power Sectors also traded in green. FMCG sector was the major looser of the day ahead of ITC results to be announced on Friday followed by IT, Auto and C D sectors.

Source : Equity Bulls

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