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Friday, 16 August 2013

Morning Summary, Market Synopsis: 16th August, 2013


The market has opened weak. The ‪#‎Sensex‬ fell 115 points at 19252.11. The Nifty is down 54 points after opening above 5700.0. Currently the market is trading sharply lower with Nifty trading below 5600 key mark and Sensex is down by more than 400 points at 18955.0. The domestic currency extended losses today to touch a record low of 62 per dollar, down nearly 60 paise from its Wednesday's closing value of 61.43. On international front, US Stocks finished near their session lows on Thursday, with the Dow dropping more than 200 points, as bond yields jumped to their highest level in two years and as the market continued to gauge when the Federal Reserve might start to reduce its asset purchases. European shares also closed sharply lower on Thursday. On ‪#‎BSE‬, every sector is under selling pressure. Realty, banks, metal, power, capital goods and oil & gas are prominent losers, falling 3-4 percent followed by ‪#‎FMCG‬and auto with 2 percent loss, however the worst performer is Consumer durable which is significantly down by 7.91% as we write this. BSE Midcap and Small cap are down by 1.59% and 1.26% respectively.

Further the market breath turned negative with 493 shares having advanced, 1127 shares having declined and 80 shares reaming unchanged.

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