Thursday, 19 March 2015

Morning Summary, Market Synopsis: 19th March, 2015

Markets welcome Fed outcome; Sensex trading 300 points higher: Benchmark indices open higher with a gap up opening with Nifty reclaiming 8,750 after US Fed late on Wednesday night stated that it would hold on for a little longer before considering raising rates, and would wait for both economic growth and inflation to stabilize. The US central bank removed a reference to being "patient" on rates from its policy statement, opening the door wider for a hike in the next couple of months while sounding a cautious note on the health of the economic recovery.
At 9:35 AM, the S&P BSE Sensex was trading at 28950 up 328 points, while NSE Nifty was trading at 8777 up 91 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 following outcome of the Federal Reserve two-day meeting. The currency has opened higher by 31 paise at 62.38 per dollar against 62.69 a dollar Wednesday.

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