Wednesday, 25 February 2015

Morning Summary, Market Synopsis: 25th February, 2015

Global cues lift markets higher; Nifty reclaims 8,800: Markets have started the session on a higher note following firm global cues after Federal Reserve Chair Janet Yellen suggested the Fed would not rush into raising interest rates. However, key events including Railway Budget, Economic Survey and Union Budget due to be presented in the subsequent days will dictate the trend on the bourses. The Railway Budget 2015-16 will be tabled in the parliament by Rail Minister Suresh Prabhu tomorrow. The Economic Survey will be tabled on Friday, 27 February 2015. Furthermore, markets will remain volatile as traders will roll over positions in the futures & options (F&O) segment from the February series to March series tomorrow.
At 9:35 AM, the S&P BSE Sensex was trading at 29226 up 221 points, while NSE Nifty was trading at 8825 up 63 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 gained in the early trade. It has opened higher by 20 paise at 62 per dollar versus 62.20 Tuesday. The dollar edges lower against the yen and euro early after Federal Reserve Chair Janet Yellen held back from giving a clear view on when the Fed may begin raising interest rates.

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