Morning Summary, Market Synopsis: 5th June, 2014

The market has opened on a flat note as most investors are cautious ahead of the crucial European Central Bank's meeting. The Sensex is up 22.93 points at 24828.7 and the Nifty is down 2.50 points at 7399.75. The rupee gained marginally in early trade. It opened higher by 7 paise at 59.26 per dollar versus previous day's closing value of 59.33 a dollar. Market participants across the world are awaiting the ECB’s rate decision, expected today. With the eurozone CPI dropping further away from the ECB's 2 percent target, expectations of a stimulus package to stave off low inflation are high. The package, experts say could include the introduction of a negative interest rate on deposits placed with the central bank. Refinancing rate reduction by 15 basis points is also likely. Globally, Asian markets are a mixed bag this morning. Nikkei is sitting at a new two-month peak and is gaining for a fourth straight session. Meanwhile, the Kospi resumed trade lower following Wednesday's public holiday as traders awaited revised first-quarter gross domestic product data. US markets rise lifting the S&P 500 into fresh record highs. On BSE, Midcap and Smallcap are trading up by 0.50% and 0.45% respectively. On sectoral front, Metals gained almost 2% while on downside, Bankex is lower by 0.93% as we write this.
Further the market breath stands positive with 1369 shares are seen advancing against 692 declining shares.