Monday, 16 March 2015

Morning Summary, Market Synopsis: 16 th March, 2015

Nifty below 8,650 in opening trades; US Fed meet eyed: The market has opened tepid following global cues. Markets opened marginally higher but failed to sustain gains tracking mixed global cues. Meanwhile, investors are likely to remain cautious ahead of the two-day US Federal Reserve meet which begins on Tuesday. Japanese stocks edged up to hit a 15-year high on Monday, with financial and real estate companies leading the gains, as investors bet on steady improvement in the Japanese economy and increased shareholder returns.
At 9:35 AM, the S&P BSE Sensex was trading at 28500 down 3 points, while NSE Nifty was trading at 8644 down 4 points. The Mid-cap and Small-cap Index, both, is under-performing the broader indices. The market breadth indicating the overall health of the market is weak. The Indian rupee opened flat at 62.98 per dollar today against previous day's closing value of versus 62.97 a dollar. From the currency space, the euro sank to a fresh 12-year low after a recent bounce as investors were still very bearish on the common currency. Persistent weakness in the euro helped the dollar index stretch to a 12-year high of 100.42.

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