Friday, 27 February 2015

Morning Summary, Market Synopsis: 27th February, 2015

Nifty opens above 8,750; Economic Survey eyed: Markets have started the session on a higher note tracking Asian cues. Investors will closely watch the Economic Survey for 2015-16 which will be released by the government today. A day ahead of tabling of the Economic Survey in Parliament, Standard & Poor's on Thursday pegged India's economic growth at 7.9% for 2015-16 and 8.2% for the next financial year, against 7.4% expected in the current financial year. It termed India as the "bright spot" in Asia-Pacific.
At 9:45 AM, the S&P BSE Sensex was trading at 28923 up 176 points, while NSE Nifty was trading at 8745 up 61 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 opened lower by 11 paise at 61.86 per dollar on Friday against previous day's closing value of 61.75 a dollar. The dollar rises to a one-month high against a basket of currencies as US inflation and business orders supported bets the Federal Reserve will raise interest rates in the middle of the year.

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