Tuesday, 10 March 2015

Morning Summary, Market Synopsis: 10th March, 2015

Markets open flat; IT shares weak: Markets opened marginal higher but failed to remain positive as gains in Pharma shares failed to offset losses in private banks and information technology shares. Developments in the ongoing session of Parliament will be closely watched. Besides, investors would keenly await data on industrial production for January and consumer price index for February scheduled to be announced on Thursday.
At 9:35 AM, the S&P BSE Sensex was trading at 28820 down 24 points, while NSE Nifty was trading at 8746 down 11 points. However, 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 further today. It has opened lower by 25 paise at 62.80 per dollar versus 62.55 Monday. The US dollar neared multi-year highs on the yen and euro in Asia on Tuesday amid starkly diverging outlooks for interest rates globally, while markets looked past a surprisingly high reading on Chinese inflation.

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