Tuesday, 30 July 2013

Morning Summary, Market Synopsis: 30th July, 2013

Photo: Morning Market Update:
The market opened flat with the #Sensex at 19614.45, up 21.17 points. The #Nifty is up 7.40 points at 5839.05. All eyes will be on Reserve Bank of India's credit policy today. The market will look forward to indications from RBI on when the tight money rules will be rolled back. Meanwhile the RBI's macroeconomic report says currency stability is its top priority. It also adds that steps to tighten liquidity will give the government space to make structural reforms to lower the current account deficit. The Indian rupee opened weak by 21 paise at 59.62 per dollar against 59.41 Monday and we expect further weakness, following the RBI's hawkish comments. Key policy rates are likely to be unchanged in today's policy. On international front, US stocks kicked off the week on a weak note as investors hesitated to jump in ahead of the Federal Reserve meeting and a slew of key economic reports. European shares pared earlier gains to close flat. On Asian market, Japanese stocks rebounded on Tuesday to break a four-day losing streak as the yen renewed its pace of declines while gains in the rest of Asia were capped ahead of key central bank meetings this week. On BSE, Midcap and Small cap are trading in red with a decline of 0.53% and 0.40% respectively while prices are trading mixed on sectoral front. IT sector is the best performer to surge 1.29% while Realty sector is trading down 1.44% as we write this.
Market breath stands negative with 588 shares having advanced, 871 shares having declined and 106 shares reaming unchanged.
The market opened flat with the ‪#‎Sensex‬ at 19614.45, up 21.17 points. The ‪#‎Nifty‬ is up 7.40 points at 5839.05. All eyes will be on Reserve Bank of India's credit policy today. The market will look forward to indications from RBI on when the tight money rules will be rolled back. Meanwhile the RBI's macroeconomic report says currency stability is its top priority. It also adds that steps to tighten liquidity will give the government space to make structural reforms to lower the current account deficit. The Indian rupee opened weak by 21 paise at 59.62 per dollar against 59.41 Monday and we expect further weakness, following the RBI's hawkish comments. Key policy rates are likely to be unchanged in today's policy. On international front, US stocks kicked off the week on a weak note as investors hesitated to jump in ahead of the Federal Reserve meeting and a slew of key economic reports. European shares pared earlier gains to close flat. On Asian market, Japanese stocks rebounded on Tuesday to break a four-day losing streak as the yen renewed its pace of declines while gains in the rest of Asia were capped ahead of key central bank meetings this week. On BSE, Midcap and Small cap are trading in red with a decline of 0.53% and 0.40% respectively while prices are trading mixed on sectoral front. IT sector is the best performer to surge 1.29% while Realty sector is trading down 1.44% as we write this.
Market breath stands negative with 588 shares having advanced, 871 shares having declined and 106 shares reaming unchanged.

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