Monday, 4 May 2015

Morning Summary, Market Synopsis: 4th May, 2015

Markets bounce back; Nifty above 8,250: The markets have opened the week on a positive note tracking gains in the US markets and in wake of the sell-off witnessed in the past two weeks. At 9:35 am, the Sensex is quoting at 27,330, higher by 319 points and the Nifty is at 8275, up 93 points. The debate on the Constitution Amendment Bill in respect of Goods and Services Tax (GST), the passage of the Land Acquisition Bill and the outcome of monthly manufacturing and services sector surveys will be keenly awaited. The next batch of March quarterly results will also dictate the trend on the bourses. In the currency space, dollar is off lows, staging a bit of a comeback as sterling comes under pressure. Indian money market is shut on account of Buddha Purnima.

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