Closing Summary, Market Synopsis: 10th February, 2015

Markets snap seven day losing streak: Market witnessed a roller-coaster ride on the Delhi election verdict day and finally closed on positive terrain for the first time after seven days of decline. All major sectoral indices, barring IT and pharmaceuticals, ended in positive terrain, with banks, metals and auto leading the decline. A lot had to do with Tuesday's verdict that saw the Arvind Kejriwal-led Aam Aadmi Party decimate the BJP and Congress in the Delhi elections. Kejriwal will take oath as the Chief Minister on February 14. His party won 67 out of 70 assembly seats. The next major event for the market is the Union Budget on February 28. 

The market breadth indicating the overall health of the market was strong. The Sensex ended higher by 128.2 points at 28355.6 and the Nifty was up 39.2 points at 8565.5. The Indian rupee is trading flat at 62.12 per dollar against previous day's closing value of 62.17 a dollar. The dollar slips somewhat after a payrolls-inspired rally ran out of steam. The dollar index is a tad softer but not far from an 11-year peak scaled last month.