Thursday, 9 April 2015

Morning Summary, Market Synopsis: 9th April, 2015

Nifty reclaims 8,750 after Moody's revises India outlook to positive: Benchmark share indices extended gains, amid firm global cues, after global rating agency revised India's outlook to positive from stable for the year. Among global markets, Wall Street ended higher as investors shook off a plunge in oil prices and regarded the Federal Reserve's meeting minutes as largely dovish. Hong Kong and Tokyo have scaled fresh multi-year highs. The Hang Seng index has climbed 3.8% to its highest level since May 2008, boosted by strong buying from Chinese investors who used up the entire 10.5 billion Yuan ($1.69 billion) daily investment quota in a cross-border program for the first time.
At 9:30 AM, the 30-share Sensex was up 58 points at 28,765 and the 50-share Nifty was up 11 points at 8,725. In the broader markets, the BSE Mid-cap index was up 0.7% and the Small-cap index was up 0.4%. The Indian rupee has opened marginally higher at 62.16 per dollar today against 62.24 Wednesday. The dollar rose on after the release of the Federal Reserve's FOMC meeting minutes.

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