TODAY BSE MARKETS NEWS

The BSE Sensex is currently trading at 19,031.88, up by 153.92 points or 0.82% after trading in a range of 19,040.32 and 18,943.62. There were 26 stocks advancing against 4 declines on the index.

The broader indices were trading in green; the BSE Mid cap index was up by 0.72% and Small cap index was up by 0.27%.

The top gaining sectoral indices on the BSE were, Auto up by 1.38%, IT up by 1.30%, Realty up by 1.17%, Oil & Gas up by 1.13% and Bankex up by 0.94% while, there was no loser on the BSE.

The top gainers on the Sensex were Tata Motors up by 3.66%, ICICI Bank up by 2.91%, Wipro up by 2.48%, Maruti Suzuki up by 2.43% and Reliance up by 2.27%.

On the flip side, Bajaj Auto was down by 1.28%, NTPC was down by 0.74%, Bharti Airtel was down by 0.48% and ITC was down by 0.10% were the top losers on the Sensex.

Meanwhile, Finance Minister P Chidambaram at a meeting with India Inc has stated that India's fiscal deficit may be less than the provisional figure of 5.2% of gross domestic product for the 2012/13 fiscal year. However, he cautioned that current account deficit (CAD) is more worrying than fiscal deficit.

In the July-September quarter, CAD had touched a record high of 5.4% of GDP. Similarly, the trade deficit in January widened to $20 billion, the second highest rise ever in a month. The biggest trade gap of $21 billion was recorded in October, 2012. With the rising trend seen in trade deficit so far, CAD is expected to surge further for the third quarter as well, which will be out by the month end.

As per a report, large current account deficit is expected to persist as long as low growth continues on the global front, hurting exports and high liquidity. Further, raising the oil import bill, which is likely to persist till 2014.

However, going ahead some easing in the CAD is likely and it is expected to fall to 3.8% of the GDP in FY14 with statistical corrections and decline in coal and gold imports. The government has taken several steps over the last few months, to boost dollar inflows like de-regulating NRI deposit rates, relaxing ECB norms, increasing FII debt limits, liberalization of FDI and postponement of GAAR and higher duties on gold.

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