Wednesday, 8 January 2014

Morning Summary, Market Synopsis: 8th January, 2014

The market opened in the positive terrain. The Sensex is up 73.75 points at 20766.99, and the Nifty up 15.80 points or 0.26% at 6178.05. The rupee gained in the early trade on Wednesday. It opened higher by 12 paise at 62.19 per dollar versus previous day's closing value of 62.31. Meanwhile, the dollar hovers near a one-month high against a basket of major currencies early in Asia trade, having rebounded smartly overnight on the back of upbeat US trade data. In macro news from the Eurozone, inflation data came in lower than expected, increasing the pressure on ECB to announce stimulus measures at its policy meeting this week. German unemployment fell in December on a seasonally adjusted basis, the first drop since July. On BSE, Midcap and Smallcap are trading higher with gains of 0.46% and 0.68% respectively. On sectoral front, IT is the best performer to edge 0.61% higher while on down side, FMCG is the only exception to trade in red i.e, down by 0.05%.
Further the market breath stands positive with 822 shares are seen advancing against 312 declining stocks.

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