Wednesday, 11 February 2015

Morning Summary, Market Synopsis: 11th February, 2015

Market edges higher in early trades; Nifty above 8600: Key benchmark indices edged higher in early trade as firmness in global stocks boosted sentiment. However, market participants are likely to remain cautious ahead of a meeting of euro area finance ministers on Wednesday to renegotiate Greece’s bailout package. Meanwhile, investors, who had feared a victory for the anti-establishment party would further spook the markets, took AAP’s victory in their stride. Market participants feel defeat in the Delhi polls would spur the central government to boost capital spending and announce a reform-oriented Budget later this month.
At 9:45 AM, the S&P BSE Sensex was trading at 28500 up 144 points, while NSE Nifty was trading at 8610 up 45 points. The Mid-cap and Small-cap Index, both, is out-performing the broader indices. The market breadth indicating the overall health of the market is strong. The Indian rupee opened lower by 8 paise at 62.26 per dollar against previous day's closing value of 62.18 a dollar. The dollar hovered at one-month highs versus the yen, bolstered by gains in treasury yields, while uncertainty over a new debt deal for Greece kept a cloud over the euro.

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