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Indian stock market daily closing report (January 11, 2013)

Contributed by Nirmal Bang

After a gap up opening due to Infosys result, Indian markets failed to sustain the gains mainly due to profit booking and heavy selling pressure in FMCG & Realty stocks.

Infy was the star of the day today. It was a top gainer on Sensex today with almost 17% gains, on account of its better-than-expected third quarter results and positive changes in FY13 guidance.

India's IIP contracted to a four month low of 0.1% YoY, for the month of November. It is mainly due to the weakness in manufacturing and mining sectors.

According to the data released by the government, India's trade deficit narrowed to $17.7 billion in December from $19.3 billion in November. But on YoY basis the trade deficit deteriorated. India's trade deficit was $ 14.7 billion for December 2011. India’s export also decreased for the eighth straight month.

The breadth of the market was negative in today’s trade.