Monday, 9 March 2015

Morning Summary, Market Synopsis: 9th March, 2015

Nifty opens below 8,900; global markets weigh: Markets have started the trading session on a lower note following weakness among Asian peers and sharp decline in US stocks on Friday. Further, investors would keenly await data on industrial production for January and consumer price index for February scheduled to be announced on Thursday. Besides, developments in the ongoing session of Parliament will be closely watched.
At 9:35 AM, the S&P BSE Sensex was trading at 29120 down 324 points, while NSE Nifty was trading at 8832 down 104 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 weak. The Indian rupee slipped in the early trade on Monday. It has opened lower by 45 paise at 62.61 per dollar against Thursday's closing value of 62.16 a dollar. The dollar rises to a fresh 11-year high against a basket of major currencies on expectations that the Federal Reserve might lift interest rates sooner rather than later.

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