Monday, 5 August 2013

Morning Summary, Market Synopsis: 5th August, 2013

Indian equity market opened marginally positive with Sensex up by 18 points at 19182 and Nifty at 5682.40, higher by 4.5 points. Indian shares had their biggest weekly decline in four months as a weak currency spurred concern that foreign fund outflows may accelerate and a trading halt at the nation’s biggest spot commodities bourse prompted speculation that some investors may sell equity holdings to meet margin calls. In currency front, rupee future opened at 61.32, stronger by 6 paise against the dollar today. On the global front, US markets closed modestly higher in thin volume despite a tepid jobs report. While the data was disappointing, it still showed job growth and may also make the Federal Reserve a bit more hesitant about curtailing its bond purchases in September. In Europe, markets closed mixed following weak jobs data from the US. On BSE, Mid cap and Small Cap are seen lower with midcap lower by 0.60% and small cap by 0.14%. On sectoral front, IT is the top performer to gain 0.82% while Capital Goods witnessed a sharp decline of 2.44% at the time of writing this.

Further the market breath remains negative with 656 shares having advanced, 854 shares having declined and 83shares reaming unchanged.

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