Friday, 9 January 2015

Morning Summary, Market Synopsis: 9th January, 2015

Key Indices edge higher in early trade; Nifty above 8,250: Benchmark indices opened higher amid firm Asian cues and overnight rally in US stocks. Globally, equity markets have surged on positive US jobs data, expectations of aggressive action from European Central Bank and rebound in crude oil prices.
At 9:45 AM, the S&P BSE Sensex was trading at 27415 up 140 points, while NSE Nifty was trading at 8282 up 47 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 quite. The Indian rupee gained in the early trade. It has opened higher by 19 paise at 62.48 per dollar compared to previous day's closing value. On Thursday, the rupee ended at nearly 4-week closing high of 62.67 per dollar. The euro extends losses to trade near a nine-year low, as investors bet the European Central Bank was getting closer to adopting quantitative easing to ward off deflation. Also a slump in German industrial orders in November reinforced bearish views of the single currency.

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