Monday, 16 February 2015

Closing Summary, Market Synopsis: 16th February, 2015

Markets gain fifth straight day; FMCG shares gain: Markets ended flat with positive bias on Monday after easing whole-sale price inflation led to renewed buying interest in stocks of fast moving consumer goods companies. Oil stocks were down as Finance Minister Arun Jaitley may look at re-imposing 5 percent customs duty on crude oil imports to shore up revenues by USD 3 billion and create a level-playing field for domestic producers. Presently, the government does not levy any import or customs duty on crude oil imports. On the other hand, domestically produced crude oil attracts two percent central sales tax, something which imported oil is exempted from. The market breadth indicating the overall health of the market was weak. The Sensex ended higher by 40.95 points at 29135.88 and the Nifty was up 3.85 points at 8809.35. The Indian rupee is trading slightly lower at 62.20 to the US dollar compared to Friday's close of 62.19.

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