Markets staging a comeback; breadth negative

The markets continue its upward journey with the Sensex recovering 176 points from the day's low of 19,716. The benchmark index is at 19,892 while the Nifty is 14 points down at 5,984.

In the broader markets, the smallcap has recovered and is in the positive range, up 0.04% while the midcap index is down 0.3%. In comparison the Sensex continues to underperform at 0.2% in the negative.

Among the sectoral indices, Capital goods continue to lead while FMCG, Consumer Durables and Teck has moved into the green. Realty is the biggest loser on the chart and has extended its losses, down 1.6%. Meanwhile, Bankex and Oil & Gas down 0.8% and 0.7% respectively have pared some of its initial losses.

The gainers in the Sensex 30 stocks are Bharti Airtel gaining 4% followed by Hindustan Unilever,Hero Honda, Sterlite, L&T and Jaiprakash Associates adding 1% each.

The losers are Reliance Infrastructure, Mahindra & Mahindra and Reliance Communications losing 2% each. DLF, Hindalco,Tata Steel, Wipro, Cipla and RIL shedding 1% each are the other noteable losers.

The market breadth continues to be negative. 1629 stocks have declined while 1224 have advanced.