Monday, 23 March 2015

Morning Summary, Market Synopsis: 23 rd March, 2015

Markets open on a positive note; Nifty hovers around 8600 levels: Markets have started the session on a positive note tracking positive global cues. Markets will remain volatile as traders will unwind positions due to derivative expiry of March contract and fiscal-year profit booking. Investment trends by overseas investors, movement of rupee against the dollar and crude oil would also influence trading. The next major trigger for the Indian markets is Q4 results of India Inc. The Q4 results season starts during second week of April, 2015.
At 9:35 AM, the S&P BSE Sensex was trading at 28330 up 69 points, while NSE Nifty was trading at 8585 up 14 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 neutral. The Indian rupee opened with marginal gains at 62.40 per dollar today versus Friday's closing value of 62.46 a dollar. The dollar slips across the board pulled lower by expectations US interest rates will rise more slowly than previously expected.

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