Thursday 1 August 2013

Morning Summary, Market Synopsis: 1st August, 2013

Photo: Morning Market Update:
India's benchmark share indices opened higher on Thursday, amid firm Asian cues, led by index heavyweights ITC, HDFC, HUL and private banks. The Sensex is up 128.76 points at 19474.46, and the Nifty adds 34.90 points at 5776.90. Goldman downgraded its rating on Indian stocks to "underweight" on concerns about delayed growth recovery and rising vulnerabilities for the economy. On international front, The FOMC meet is a non-event for the market as the Federal Reserve said it will maintain its bond-buying policy in its ongoing effort to bolster the economy. US market ended flat after a volatile session while Asian shares rose on Thursday after China's official manufacturing activity data came in better than expected, easing some concerns of a sharp slowdown in the world's second-largest economy. On BSE front, Midcap is down 0.11% while small cap is trading higher by 0.47% as we write this. On secotral space, FMCG is gaining the most by 1.85% followed by Capital Goods while on other side, the consumer durables eased 0.59%.
Further the market breath turned positive with 851 shares having advanced, 657 shares having declined and 90 shares reaming unchanged.
India's benchmark share indices opened higher on Thursday, amid firm Asian cues, led by index heavyweights ITC, HDFC, HUL and private banks. The Sensex is up 128.76 points at 19474.46, and the Nifty adds 34.90 points at 5776.90. Goldman downgraded its rating on Indian stocks to "underweight" on concerns about delayed growth recovery and rising vulnerabilities for the economy. On international front, The FOMC meet is a non-event for the market as the Federal Reserve said it will maintain its bond-buying policy in its ongoing effort to bolster the economy. US market ended flat after a volatile session while Asian shares rose on Thursday after China's official manufacturing activity data came in better than expected, easing some concerns of a sharp slowdown in the world's second-largest economy. On BSE front, Midcap is down 0.11% while small cap is trading higher by 0.47% as we write this. On secotral space, FMCG is gaining the most by 1.85% followed by Capital Goods while on other side, the consumer durables eased 0.59%.
Further the market breath turned positive with 851 shares having advanced, 657 shares having declined and 90 shares reaming unchanged.

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