Tuesday, 20 January 2015

Morning Summary, Market Synopsis: 20 th January, 2015

Market edges higher in early trade: Markets opened marginally higher, tracking firm Asian cues, helped by a rebound in Chinese shares after better-than-expected fourth quarter GDP growth in China. Bank shares were among the top gainers in early trades. At 9:45 AM, the S&P BSE Sensex was trading at 28395 up 133 points, while NSE Nifty was trading at 8595 up 44 points. The Mid-cap and Small-cap Index, both, is outperforming the broader indices. The market breadth indicating the overall health of the market is positive. The Indian rupee opened lower by 11 paise at 61.82 per dollar against previous day's closing value of 61.71 a dollar. Meanwhile, The International Monetary Fund (IMF) trimmed its global growth forecast for 2015-16, cautioning that the boost from lower crude oil prices would be offset by dimmer economic prospects for China, Russia, the euro area, Japan and oil producers.

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