Wednesday, 17 July 2013

Morning Summary, Market Synopsis: 17th July, 2013

The market has made a stable start boosted by government’s ‪#‎FDI‬ reforms. The ‪#‎Sensex‬ opens up 68.24 points at 19919.47, and the Nifty is up 17.00 points at 5972.25. Telecom stocks like Bharti Airtel and Idea Cellular are in focus today as the government has relaxed FDI reforms in 13 sectors including 100 percent in telecom and higher caps in insurance and defence sectors. On Global updates, US Stocks closed lower on Tuesday, with the S&P 500 breaking an 8-day rally, following a mixed batch of economic and earnings reports and as investors hesitated to jump in ahead of Fed Chairman Ben Bernanke's congressional testimony. Europe stocks close down after weak data. Asian markets were trading weak. China's Shanghai Composite was down 0.47 percent or 9.72 points at 2,056. Hong Kong's Hang Seng was up 0.26 percent or 54.89 points at 21,367.27. On ‪#‎BSE‬, Midcap and Small Cap were seen positive with a gain of 0.57% and 0.54% to trade at 6048.77 and 5768.34 respectively. On Sectoral front, Consumer Durables and Power are the top performer to add 1.53% and 1.22% respectively while Bankex ease 1.12% and Realty decline 0.40% till now.
Market breath remains positive with 749 shares have advanced, 372 shares declined, and 54 shares are unchanged at the time of writing this.

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