Wednesday, 11 March 2015

Morning Summary, Market Synopsis: 11th March, 2015

Markets opens marginally higher: Markets opened marginally higher helped by a rebound in index heavyweights while telecom stocks firmed up reports that bidding for spectrum seems to be moderating while the premium for the 900MHz band is coming off. Meanwhile, major US share indices ended sharply lower on Tuesday on rising prospects that the US Federal Reserve may raise interest rates sooner-than-expected post the robust jobs data and the strengthening US dollar.
At 9:35 AM, the S&P BSE Sensex was trading at 28775 up 64 points, while NSE Nifty was trading at 8733 up 21 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. Meanwhile, the Indian rupee opened marginally lower at 62.83 per dollar today versus 62.76 Tuesday. The dollar further appreciated against the euro lifting the greenback to a 12-year high.

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