Thursday, 7 May 2015

Morning Summary, Market Synopsis: 7th May, 2015

Markets slump further; Nifty opens below 8,050: Benchmark indices opened lower tracking weakness among the Asian peers and losses in Wall Street after US Federal Reserve Chair Janet Yellen warned of high share valuations, adding to anxiety about future interest rates. The US government will unveil US non-farm payrolls data for April 2015 tomorrow and this is likely to provide clues on the probability of a rate increase by the US Federal Reserve. At 9.25 AM, the 30-share Sensex is down 130 points at 26,587 while 50-share Nifty has shed 47 points to quote at 8,049 mark. The rupee is quoting at 63.78, the lowest level in the year 2015 owing to losses in equities, with foreign investors pulling out of the markets.

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