Morning Summary, Market Synopsis: 7th July, 2014

Just as Narendra Modi government’s first Budget session of the 16th Lok Sabha begins today, the market opens at a record high with Sensex hitting above 26,000. The Sensex is up 114.88 points at 26076.94 and the Nifty is up 28.80 points at 7780.40. The Indian rupee opened lower at 59.81 per dollar against 59.73 per dollar on Friday. The dollar clung on to most of last week's payrolls-inspired gains early. The dollar index was steady at 80.30 mark. Globally, US markets remained shut on Friday on account of independence day. Meanwhile, European shares closed on a negative note, but were higher for the week, as traders digested a better-than-expected US jobs report and the European central bank's decision to hold fire. On BSE, Midcap and Smallcap are trading in green with gains on 0.28% and 0.54% respectively.
Further the market breath stands positive with 1438 shares are seen advancing against 898 declining shares.