Friday 27 June 2014

Morning Summary, Market Synopsis: 27th June, 2014

Equity benchmarks rebounded with the Nifty reclaiming 7500 level on first day of July series supported by pharma, oil & gas, metals and FMCG stocks. The Indian rupee opened with marginal gains of 6 paise at 60.08 per dollar on Friday as against previous day's closing value of 60.14 a dollar. Asian equity markets declined following hawkish comments from a Federal Reserve official. Speaking in a televised interview in the US overnight, St. Louis Fed President James Bullard suggested interest rates could rise sooner rather than later, leading Wall Street shares to end in the red overnight. US markets ended lower on the back of government data prompting downward revisions to US economic growth in the second quarter, coupled with comments from Fed on interest rate hikes. Six of the 10 S&P 500 sectors were in negative territory. The S&P financial index slipped 0.3 percent and ranked among those leading the market's decline. On BSE, midcap and smallcap are trading higher in green with gains of 0.28% and 0.34% respectively.

Further the market breath stands positive with 1455 shares are seen advancing against 725 declining shares.

Photo: Morning Market Update:
Equity benchmarks rebounded with the Nifty reclaiming 7500 level on first day of July series supported by pharma, oil & gas, metals and FMCG stocks. The Indian rupee opened with marginal gains of 6 paise at 60.08 per dollar on Friday as against previous day's closing value of 60.14 a dollar. Asian equity markets declined following hawkish comments from a Federal Reserve official. Speaking in a televised interview in the US overnight, St. Louis Fed President James Bullard suggested interest rates could rise sooner rather than later, leading Wall Street shares to end in the red overnight. US markets ended lower on the back of government data prompting downward revisions to US economic growth in the second quarter, coupled with comments from Fed on interest rate hikes. Six of the 10 S&P 500 sectors were in negative territory. The S&P financial index slipped 0.3 percent and ranked among those leading the market's decline. On BSE, midcap and smallcap are trading higher in green with gains of 0.28% and 0.34% respectively.

Further the market breath stands positive with 1455 shares are seen advancing against 725 declining shares.

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