Thursday, 12 February 2015

Morning Summary, Market Synopsis: 12th February, 2015

Market edges higher in early trades; Nifty above 8650: Markets have started the session on a higher note ahead of the CPI and IIP data due to be released later during the day. Also, corporate earnings to be posted by some of the blue-chip companies including BHEL, Cipla, Coal India and Hindalco are likely to dictate the trend on the bourses during the session. Asian stocks and the euro dipped on Thursday as markets erred on the side of caution over the ongoing Greek debt negotiations amid conflicting headlines on progress in the talks.
At 9:35 AM, the S&P BSE Sensex was trading at 28562 up 28 points, while NSE Nifty was trading at 8650 up 23 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 slipped in the early trade. It has opened lower by 14 paise at 62.39 per dollar versus 62.25 Wednesday. Euro declines led by a barrage of conflicting headlines that left investors no clearer on whether Greece may yet secure a new debt agreement with its European lenders.

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