Closing Summary, Market Synopsis: 30 th March, 2015

Bulls return after eight days; Sensex rallies 517 points: Benchmark indices ended nearly 2% higher snapping eight-day losing streak amid a broad-based rally led by index heavyweight, capital goods and bank shares while firm global cues and strength in Asian markets also aided the up-move. The 30-share Sensex ended 517 points higher at 27,976 and the 50-share Nifty closed 120 points higher at 8,492. The next major trigger for the Indian markets is Q4 results of India Inc. which will start during second week of April, 2015. The Indian rupee is trading lower by 26 paise at 62.67 per dollar against Friday's closing value of 62.41 a dollar.

Commodity Market Update (Gold)

Precocious metals on CMX are down for a second day after Federal Reserve Chair Janet Yellen said she expects interest rates to rise this year in the world’s biggest economy. Actively traded Gold contract is down around a percent or 11.80 points to trade at 1188.00 after having tested a low of 1185.90 while Silver futures plunged 1.75% or 30 cents to trade at 16.77 an ounce. WTI Crude Oil futures extended sharp losses from the previous session on Monday, amid signs of progress in discussions between western diplomats and Iran over its disputed nuclear industry. WTI Crude Oil futures tumbled 1.10 points or 2.23% to trade at 47.83 per barrel while Natural Gas is losing 0.64% to trade at 2.62 per mmbtu. Base metals are trading mixed since morning with Copper trading at 6078.50, up 17 points after having tested a high of 6123.00 while Nickel tested five year low of 13085.00 before trading in red at 13170.00, down 0.68% or 90 points.

Morning Summary, Market Synopsis: 30 th March, 2015

Markets rebound in trades today; Sensex up 200 points: Markets have started the session on a positive note tracking firm Asian cues. Market participants would keep a close eye on oil prices amid rise in geopolitical tensions in West Asia as Saudi Arabia launched military operations in Yemen.
At 9:35 AM, the S&P BSE Sensex was trading at 27678 up 220 points, while NSE Nifty was trading at 8402 up 61 points. The Mid-cap and Small-cap Index, both, is out-performing the broader indices. The market breadth indicating the overall health of the market is strong. The Indian rupee opened lower by 15 paise at 62.56 per dollar on Monday against Friday's closing value of 62.41 a dollar. The dollar holds steady after the head of the US Central Bank assured investors that the path back to 'normal' interest rates will only occur at a gradual pace.

Morning Summary, Market Synopsis: 27 th March, 2015

Markets rebound in trades today; Sensex up 100 points: Markets have rebounded in trades today after witnessing a sharp fall yesterday with Indices ending at their lowest closing levels since January 14, 2015 amid emerging geo-political crisis in the Middle East. Asian stocks crawled higher on Friday as upbeat US economic data helped revive some risk appetite lost following air strikes on Houthi militants in Yemen, while the dollar rebounded.
At 9:35 AM, the S&P BSE Sensex was trading at 27578 up 120 points, while NSE Nifty was trading at 8375 up 33 points. The Mid-cap and Small-cap Index, both, is out-performing the broader indices. The market breadth indicating the overall health of the market is strong. The Indian rupee has opened lower by 13 paise at 62.80 per dollar today against previous day's close of 62.67. The dollar index bounced off a three-week trough led by some upbeat economic data and a rise in US treasury yields.

Closing Summary, Market Synopsis: 27th March, 2015

Markets end flat amid volatility: Markets ended flat, amid a volatile trading session, led by Infosys and a rebound in bank shares even as select index heavyweights capped upside gains. The 30-share Sensex ended up 1 point at 27,459 and the 50-share Nifty ended down 1 point at 8,341. The next major trigger for the Indian markets is Q4 results of India Inc. which will start during second week of April, 2015. The Indian rupee was trading marginally higher to the US dollar at 62.58 compared to the previous close of 62.67.

Commodity Market Update (Copper)

Precious metals on CMX are trading lower since morning as dollar regained some strength after the last day’s upbeat Jobless claims report from the world largest economy US. Actively traded Gold contract push from its recent pick and is trading in red at 1196.00, down 0.73% or 8.80 points while Silver future dropped around a percent or 16 cents to trade at 16.985 after having tested a low of 16.915 an ounce. Base metals are losing since morning after the last day’s sharp gain. LME Nickel tumbled 185 points or 1.36% to trade at 13420.00 while Copper is trading at 6123.00, down 295.50 points or half a percent after having tested a low of 6074.50, followed by rest of the counters which are down around a percent each. WTI Crude Oil sells off since morning after the last day’s steep gain on the back of geopolitical reason. Light sweet Crude Oil futures plunged around 2.5% or 1.24 points to trade at 50.18 while Natural Gas is losing 1.35% or 4 cents to trade at 2.63 per mmbtu.

Closing Summary, Market Synopsis: 26th March, 2015

Market ends lower for seventh straight day amid geo-political crisis in Middle east: Benchmark indices ended at their lowest closing levels since January 14, 2015 and also registered the highest percentage drop since January 6, 2015 as risk-aversion prevailed on caution ahead of March F&O expiry and concerns over foreign capital outflows following the spike in geo-political tensions after Saudi Arabia led coalition of Arab nations launched air strikes on Yemen to neutralise Houthi Rebels. The seventh straight session of losses came on the back of sharp sell-off in financials and information technology shares along with losses in metal and pharmaceutical stocks.
The 30-share Sensex ended down 654 points at 27,458 and the 50-share Nifty closed down 189 points at 8,342. The next major trigger for the Indian markets is Q4 results of India Inc. which will start during second week of April, 2015. In the currency front, the rupee fell by 35 paise at 62.68 against the dollar today at the Interbank Foreign Exchange.

Morning Summary, Market Synopsis: 26 th March, 2015

Nifty opens above 8,550; Sensex gains 50 points: Markets opened lower tracking weak global cues amid concerns in the Middle East after Saudi Arabia announced on Wednesday night that it had launched a military campaign in Yemen. Further, traders investors are likely to remain cautious ahead of the March F&O expiry due later during the day. The next major trigger for the Indian markets is Q4 results of India Inc. The Q4 results season starts during second week of April, 2015.
At 9:35 AM, the S&P BSE Sensex was trading at 27941 down 171 points, while NSE Nifty was trading at 8479 down 51 points. The Mid-cap and Small-cap Index, both, is under-performing the broader indices. The market breadth indicating the overall health of the market is weak. The Indian rupee slipped in the early trade on Thursday. It has opened lower by 22 paise at 62.55 per dollar versus 62.33 Wednesday. The US dollar slipped against major world currencies on weak economic data in the US but still held onto gains of more than 7 percent year-to-date.

Morning Summary, Market Synopsis: 25 th March, 2015

Nifty opens above 8,550; Sensex gains 50 points: Markets have started the session on a marginally positive note tracking global cues. Further, traders have turned cautious ahead of expiry of March derivative contracts tomorrow. Investment trends by overseas investors, movement of rupee against the dollar and crude oil would also influence trading. The next major trigger for the Indian markets is Q4 results of India Inc. The Q4 results season starts during second week of April, 2015.
At 9:35 AM, the S&P BSE Sensex was trading at 28233 up 71 points, while NSE Nifty was trading at 8560 up 17 points. The Mid-cap and Small-cap Index, both, is under-performing the broader indices. The market breadth indicating the overall health of the market is weak. The Indian rupee has opened marginally lower at 62.32 per dollar today against previous day's closing value of 62.26 a dollar. The US dollar rebounded against the euro on persistent bullish sentiment toward the greenback. The euro slipped below 1.10 to the dollar.

Closing Summary, Market Synopsis: 24 th March, 2015

Market ends lower amid choppy trading session: Benchmark indices ended marginally lower, amid volatile trading session, weighed down by bank shares while caution prevailed ahead of expiry of March derivative contracts on Thursday. The 30-share Sensex ended down 30 points at 28,162 and the 50-share Nifty dipped 8 points at 8,543. Markets will remain volatile as traders will unwind positions due to derivative expiry of March contract and fiscal-year profit booking. The next major trigger for the Indian markets is Q4 results of India Inc. which will start during second week of April, 2015. In the currency front, continuing its rising streak for the seventh straight session, the rupee rose by 9 paise to 62.18 against the dollar at the Interbank Foreign Exchange on sustained selling of dollars by exporters.

Morning Summary, Market Synopsis: 24 th March, 2015

Markets open marginally higher; Pharma shares gain: Markets are opened flat with positive bias tracking weakness in Asia. However, volatility cannot be ruled out later today as traders shift positions ahead of expiry of March derivative contracts on Thursday. Investment trends by overseas investors, movement of rupee against the dollar and crude oil would also influence trading. The next major trigger for the Indian markets is Q4 results of India Inc. The Q4 results season starts during second week of April, 2015.

At 9:35 AM, the S&P BSE Sensex was trading at 28233 up 41 points, while NSE Nifty was trading at 8560 up 9 points. The Mid-cap and Small-cap Index, both, is under-performing the broader indices. The market breadth indicating the overall health of the market is strong. The Indian rupee opened with marginal gains at 62.22 per dollar today versus Monday's closing value of 62.27 a dollar. The dollar slips across the board pulled lower by expectations US interest rates will rise more slowly than previously expected.

Closing Summary, Market Synopsis: 23rd March, 2015

Markets open marginally higher; Pharma shares gain: Markets are opened flat with positive bias tracking weakness in Asia. However, volatility cannot be ruled out later today as traders shift positions ahead of expiry of March derivative contracts on Thursday. Investment trends by overseas investors, movement of rupee against the dollar and crude oil would also influence trading. The next major trigger for the Indian markets is Q4 results of India Inc. The Q4 results season starts during second week of April, 2015.

At 9:35 AM, the S&P BSE Sensex was trading at 28233 up 41 points, while NSE Nifty was trading at 8560 up 9 points. The Mid-cap and Small-cap Index, both, is under-performing the broader indices. The market breadth indicating the overall health of the market is strong. The Indian rupee opened with marginal gains at 62.22 per dollar today versus Monday's closing value of 62.27 a dollar. The dollar slips across the board pulled lower by expectations US interest rates will rise more slowly than previously expected.

Commodity Market Update (Gold)

Precious metals on CMX are trading silent since morning after the last week’s sharp gain on the back of FOMC meeting where they projected a slower pace of rate hikes. Actively traded Gold contract is down 3.20 points or 0.28% to trade at 1181.40 and Silver is losing 1.26% or 21 cents to trade at 16.67 after having tested a low of 16.61 an ounce. Base metals are gaining since morning as the demand for the industrial metals increase. LME Copper tested a high of 6141.50

before trading at 6080.50, up 40 points or 0.66% while Lead is leading the group, surging over 1.5% or 28 points to trade at 1804.50, followed by rest of the metals. Crude Oil futures tumbled as Saudi Arabia’ oil minister prompted market players to refocus their attention on ample global supplies. NYMEX Crude Oil prices tested a low of 45.33 before trading at 45.62, dropped over 2% or 95 cents while Natural Gas fell 2.30% or 6 cents to trade at 2.722 per mmbtu.

Morning Summary, Market Synopsis: 23 rd March, 2015

Markets open on a positive note; Nifty hovers around 8600 levels: Markets have started the session on a positive note tracking positive global cues. Markets will remain volatile as traders will unwind positions due to derivative expiry of March contract and fiscal-year profit booking. Investment trends by overseas investors, movement of rupee against the dollar and crude oil would also influence trading. The next major trigger for the Indian markets is Q4 results of India Inc. The Q4 results season starts during second week of April, 2015.

At 9:35 AM, the S&P BSE Sensex was trading at 28330 up 69 points, while NSE Nifty was trading at 8585 up 14 points. The Mid-cap and Small-cap Index, both, is under-performing the broader indices. The market breadth indicating the overall health of the market is neutral. The Indian rupee opened with marginal gains at 62.40 per dollar today versus Friday's closing value of 62.46 a dollar. The dollar slips across the board pulled lower by expectations US interest rates will rise more slowly than previously expected.

Morning Summary, Market Synopsis: 20 th March, 2015

Markets open flat; Sensex below 28,450 mark: Markets have turned weak after making a flat opening tracking mixed global cues. Indian equities, currency and bond markets heaved a sigh of relief, along with other global markets, following the US Federal Reserve's dovish statement and its indication it wouldn't rush to raise interest rates from their current near-zero levels. Stock markets, however, failed to hold on to gains as investors turned edgy due to the lack of positive domestic triggers and weak earnings forecast.

At 9:35 AM, the S&P BSE Sensex was trading at 28445 down 23 points, while NSE Nifty was trading at 8620 down 14 points. The Mid-cap and Small-cap Index, both, is out-performing the broader indices. The market breadth indicating the overall health of the market is weak. The Indian rupee opened flat at 62.51 per dollar today against previous day's closing value of 62.52 a dollar. The dollar rose broadly as investors remain bullish on the greenback, it is currently above the 99 mark.

Closing Summary, Market Synopsis: 19 th March, 2015

Fed euphoria fades away; markets drag lower: Benchmark indices ended lower amid volatility after profit booking emerged during late noon trades in banks, auto and RIL shares erasing early gains. The 30-share S&P BSE Sensex ended lower by 152.45 points at 28,469.67 and the 50-share CNX Nifty fell 51.25 points at 8,634.65. Both the indices had gained more than 1% in early trades after the US Federal Reserve's outcome that it will wait for more reassuring cues from the economy before any hike in key rates. On the currency front, the rupee strengthened to its highest level in two weeks on Thursday after a dovish statement by the US Federal Reserve.

Morning Summary, Market Synopsis: 19th March, 2015

Markets welcome Fed outcome; Sensex trading 300 points higher: Benchmark indices open higher with a gap up opening with Nifty reclaiming 8,750 after US Fed late on Wednesday night stated that it would hold on for a little longer before considering raising rates, and would wait for both economic growth and inflation to stabilize. The US central bank removed a reference to being "patient" on rates from its policy statement, opening the door wider for a hike in the next couple of months while sounding a cautious note on the health of the economic recovery.
At 9:35 AM, the S&P BSE Sensex was trading at 28950 up 328 points, while NSE Nifty was trading at 8777 up 91 points. The Mid-cap and Small-cap Index, both, is out-performing the broader indices. The market breadth indicating the overall health of the market is strong. The Indian rupee gained in the early trade following outcome of the Federal Reserve two-day meeting. The currency has opened higher by 31 paise at 62.38 per dollar against 62.69 a dollar Wednesday.

Closing Summary, Market Synopsis: 16 th March, 2015

Markets retreat ahead of US Fed meet: Markets ended lower, amid a choppy trading session as institutional investors booked profits on caution ahead of the two-day US Federal Reserve policy meet which begins tomorrow while further contraction in February WPI data weighed on investor sentiment. The 30-share Sensex ended down 66 points at 28,438 and the Nifty ended down 15 points at 8,633. On the currency front, The Indian rupee gained 15 paise to 62.80 against the US dollar on Monday at the Inter-bank Foreign Exchange market on fresh selling of the US dollar by exporters.

Commodity Maqrlet Update (Gold):

Precious metals on CMX are trading higher since morning as the US dollar index pause its recent rally ahead of the Federal Reserve’s two days monetary policy meeting. Actively traded Gold contract is gaining 0.43% or 5 points after having tested a high of 1163.30 an ounce while Silver futures tested a high of 15.755 before settling at 15.635, up more than a percent or 14 cents. WTI Crude Oil extended its collapse to the lowest level since March 2009 on speculation that record US supply may start to strain the country’s storage capacity. Light Sweet Crude Oil futures tested a low of 43.57 before settling at 44.70, down 13 cents or 0.29% per barrel while Natural Gas is trading almost flat at 2.719 with negative bias. Base metals were trading higher in the earlier session but later on erased all of their gains and trading almost flat. Copper is trading at 5860.50, up 3 points while Nickel tested a low of 14015.00 before trading at 14125.00, down 20 points.

Morning Summary, Market Synopsis: 16 th March, 2015

Nifty below 8,650 in opening trades; US Fed meet eyed: The market has opened tepid following global cues. Markets opened marginally higher but failed to sustain gains tracking mixed global cues. Meanwhile, investors are likely to remain cautious ahead of the two-day US Federal Reserve meet which begins on Tuesday. Japanese stocks edged up to hit a 15-year high on Monday, with financial and real estate companies leading the gains, as investors bet on steady improvement in the Japanese economy and increased shareholder returns.
At 9:35 AM, the S&P BSE Sensex was trading at 28500 down 3 points, while NSE Nifty was trading at 8644 down 4 points. The Mid-cap and Small-cap Index, both, is under-performing the broader indices. The market breadth indicating the overall health of the market is weak. The Indian rupee opened flat at 62.98 per dollar today against previous day's closing value of versus 62.97 a dollar. From the currency space, the euro sank to a fresh 12-year low after a recent bounce as investors were still very bearish on the common currency. Persistent weakness in the euro helped the dollar index stretch to a 12-year high of 100.42.

Closing Summary, Market Synopsis: 12th March, 2015

Markets end higher after three day of losses: Markets snap three day losing streak on Thursday ahead of retail inflation and industrial output data due later during the day. Sentiments of the participants boosted after the International Monetary Fund said India's economy was recovering and its ability to withstand external shocks had improved, although it noted growth is likely to fall short of government targets. The Sensex ended higher by 271.2 points at 28930.4 and the Nifty was up 76 points at 8776. On the currency front, the rupee strengthened by 23 paise against previous day's closing value of 62.78 a dollar. The prospects of higher US interest rates buoyed the dollar but also kept share prices in many countries in check on Thursday, with Asian stocks hovering around seven-week lows.

Morning Summary, Market Synopsis: 12th March, 2015

Markets opens marginally higher: Benchmark share indices rebounded after three days of losses to open marginally higher tracking firm gains in Asian peers with bank shares leading the gains. Investors would keenly await data on industrial production for January and consumer price index for February scheduled to be announced today besides keeping a tab on development regarding coal and mines related Bills and insurance amendment bills sent by the government to the Rajya Sabha.
At 9:35 AM, the S&P BSE Sensex was trading at 28877 up 218 points, while NSE Nifty was trading at 8764 up 64 points. The Mid-cap and Small-cap Index, both, is out-performing the broader indices. The market breadth indicating the overall health of the market is strong. Meanwhile, the Indian rupee opened flat at 62.77 per dollar against previous day's closing value of 62.78 a dollar. The prospects of higher US interest rates buoyed the dollar but also kept share prices in many countries in check on Thursday, with Asian stocks hovering around seven-week lows.

Morning Summary, Market Synopsis: 11th March, 2015

Markets opens marginally higher: Markets opened marginally higher helped by a rebound in index heavyweights while telecom stocks firmed up reports that bidding for spectrum seems to be moderating while the premium for the 900MHz band is coming off. Meanwhile, major US share indices ended sharply lower on Tuesday on rising prospects that the US Federal Reserve may raise interest rates sooner-than-expected post the robust jobs data and the strengthening US dollar.
At 9:35 AM, the S&P BSE Sensex was trading at 28775 up 64 points, while NSE Nifty was trading at 8733 up 21 points. However, the Mid-cap and Small-cap Index, both, is out-performing the broader indices. The market breadth indicating the overall health of the market is strong. Meanwhile, the Indian rupee opened marginally lower at 62.83 per dollar today versus 62.76 Tuesday. The dollar further appreciated against the euro lifting the greenback to a 12-year high.

Morning Summary, Market Synopsis: 10th March, 2015

Markets open flat; IT shares weak: Markets opened marginal higher but failed to remain positive as gains in Pharma shares failed to offset losses in private banks and information technology shares. Developments in the ongoing session of Parliament will be closely watched. Besides, investors would keenly await data on industrial production for January and consumer price index for February scheduled to be announced on Thursday.
At 9:35 AM, the S&P BSE Sensex was trading at 28820 down 24 points, while NSE Nifty was trading at 8746 down 11 points. However, the Mid-cap and Small-cap Index, both, is out-performing the broader indices. The market breadth indicating the overall health of the market is strong. The Indian rupee slipped further today. It has opened lower by 25 paise at 62.80 per dollar versus 62.55 Monday. The US dollar neared multi-year highs on the yen and euro in Asia on Tuesday amid starkly diverging outlooks for interest rates globally, while markets looked past a surprisingly high reading on Chinese inflation.

Morning Summary, Market Synopsis: 26th February, 2015

Markets edges lower in early trade; Railway Budget, Feb F&O expiry in focus: Markets have commenced the session on a flat note with positive bias following mixed global cues. Furthermore, markets will trade in a tight range as traders will roll over positions in the futures & options (F&O) segment from the near month February series to March series today. The key event to watch out for today is the Railway Budget 2015-16 which will be tabled in the Parliament by the Rail Minister Suresh Prabhu.
At 9:45 AM, the S&P BSE Sensex was trading at 28928 down 79 points, while NSE Nifty was trading at 8742 down 25 points. The Mid-cap and Small-cap Index, both, is under-performing the broader indices. The market breadth indicating the overall health of the market is weak. The Indian rupee opened marginally higher at 61.93 per dollar on Thursday against previous day's closing value of 61.97 a dollar. The dollar nurses modest losses, having eased for a second straight session after recent remarks from the head of the Federal Reserve prompted markets to push back the timing of an eventual US interest rate hike.

Morning Summary, Market Synopsis: 9th March, 2015

Nifty opens below 8,900; global markets weigh: Markets have started the trading session on a lower note following weakness among Asian peers and sharp decline in US stocks on Friday. Further, investors would keenly await data on industrial production for January and consumer price index for February scheduled to be announced on Thursday. Besides, developments in the ongoing session of Parliament will be closely watched.
At 9:35 AM, the S&P BSE Sensex was trading at 29120 down 324 points, while NSE Nifty was trading at 8832 down 104 points. However, the Mid-cap and Small-cap Index, both, is out-performing the broader indices. The market breadth indicating the overall health of the market is weak. The Indian rupee slipped in the early trade on Monday. It has opened lower by 45 paise at 62.61 per dollar against Thursday's closing value of 62.16 a dollar. The dollar rises to a fresh 11-year high against a basket of major currencies on expectations that the Federal Reserve might lift interest rates sooner rather than later.

Morning Summary, Market Synopsis: 5th March, 2015

Markets open marginally higher: Markets opened marginally higher, amid mixed global cues, led by IT majors and a rebound in index heavyweight ITC after losses in the previous few sessions. At 9:45AM, the 30-share Sensex was up 23 points at 29,404 and the 50-share Nifty was up 2 points at 8,925. The market breadth indicating the overall health of the market was strong. Asian stock markets edged lower today, 5 March 2015, following a weak lead from Wall Street, and as China lowered its gross domestic product (GDP) growth target to 7% for 2015, down from 7.5% last year. The Indian rupee has opened lower; down 7 paise to 62.32 a dollar compared to 62.25 a dollar in previous session.

Morning Summary, Market Synopsis: 4th March, 2015

Sensex opens above 30,000 on RBI's surprise rate cut: Markets have commenced the session on a strong note after the Reserve Bank of India (RBI) surprised the street with a repo rate cut of 25 bps (basis points) to 7.5% from 7.75%. The central bank, however, has kept the cash reserve ratio (CRR) of scheduled banks unchanged at 4% of net demand and time liabilities (NDTL).
At 9:45 AM, the S&P BSE Sensex was trading at 29857 up 263 points, while NSE Nifty was trading at 9070 up 74 points. However, the Mid-cap and Small-cap Index, both, is under-performing the broader indices. The market breadth indicating the overall health of the market is strong. The Indian rupee opened higher by 26 paise at 61.66 per dollar. The dollar hovered below an 11-year high versus a basket of major currencies, as investors await US economic data and a European Central Bank meeting later this week for fresh direction clues.

Commodity Market Update:Crude Oil

WTI Crude Oil held above $50 a barrel as investors weighed Saudi Arabia’s signal that demand is improving against data forecast to show US inventories expanded from a record. US private agency API forecasted that Oil stockpiles build by 2.9 Mbd as EIA is set to release their weekly Oil stockpiles report tonight at 9.00PM. Actively traded Crude Oil contract is up over half a percent or 28 cents to trade at 50.80 while NYMEX Natural Gas is gaining around a percent or 2 cents to trade at 2.736 per mmbtu. Base metals are trading down since morning and continuing their last night’s declines on the back of weaker data and demand of this industrial metals group. 3-month Copper is losing 0.68% or 39.50 points to trade at 5796.00, followed by rest of the metals which are down around half a percent. Gold and Silver, both prices are trading in small range since morning with Gold trading at 1201.90, down 2.60 points or 0.22% and Silver is losing around half a percent or 8 cents to trade at 16.23 an ounce.

Closing Market Update: 4th March, 2015

Late sell-off drags the market sharply, in one of the biggest fall after Budget proposals were presented in the Parliament: Benchmark indices retreated from day's high to end lower after three consecutive sessions of gains on losses in metal, information technology and select banking shares. Intra-day markets scaled fresh-record highs on post-budget rate cut by Reserve Bank of India (RBI) which led to Sensex breaching the 30,000 mark for the first time. Global equities pulled back from recent record highs on Wednesday, with investors turning cautious after underwhelming euro zone PMI data and ahead of central bank meetings. Markets lost momentum in the last hour of trading with Nifty touching low on persistent profit booking mainly in Metals, Banking, IT and energy stocks. The Sensex ended lower by 213 points at 29380.7 and the Nifty was down 73.6 points at 8922.65. On the macro-economic front, the HSBC services PMI rose to an eight-month high of 53.9 in February up from 52.4 in January indicating strong expansion in output across the sector. Respondents cited robust growth of new business as the principle factor for the increase in activity.

Commodity Market Update (Silver)

Precious metals on CMX held steady on Tuesday, as traders continued to monitor the direction of the dollar and mull the timing of the first US rate hike. Actively traded Gold contract is trading at 1208.50 after having tested a low of 1194.60 whereas Silver futures tested a low of 16.07 before settling in red at 16.42, down 3 cents an ounce. LME Copper fell from the highest close in seven weeks after data showed manufacturing slowed in the US and before policy makers unveil growth targets in China. 3-month Copper is losing 1.38% or 81.50 points to trade at 5836.00, followed by the rest of the metals which are down around a percent each. WTI Crude Oil is gaining 1.21% or 61 cents to trade at 50.18 after having tested a high of 50.32 per barrel while Natural Gas tested a low of 2.64 before settling at 2.655, dropped over 1.5% or 4 cents per mmbtu.

Morning Summary, Market Synopsis: 3rd March, 2015

Markets open marginally lower; Nifty hovers around 8,950: Markets opened marginally lower amid profit taking in private banks after sharp gains recently while ITC continued to remain weak because of steep hike on cigarettes proposed in the Budget. Meanwhile, on the macro front India formally joins the ranks of inflation targeting countries. President signs landmark monetary policy agreement with the Reserve Bank of India (RBI) ordering central bank to keep inflation below 6 percent next year and around 4 percent for all subsequent years.
At 9:45 AM, the S&P BSE Sensex was trading at 29481 up 22 points, while NSE Nifty was trading at 8960 up 3.2 points. The Mid-cap and Small-cap Index, both, is out-performing the broader indices. The market breadth indicating the overall health of the market is strong. The Indian rupee opened flat at 61.89 per dollar versus 61.87 Monday. The US dollar hovered close to an 11-year high against a basket of currencies while Asian shares firmed in early trade on Tuesday, with sentiment bolstered by another record day on Wall Street.

Commodity Market Update (Silver)

Precious metals on CMX held steady on Tuesday, as traders continued to monitor the direction of the dollar and mull the timing of the first US rate hike. Actively traded Gold contract is trading at 1208.50 after having tested a low of 1194.60 whereas Silver futures tested a low of 16.07 before settling in red at 16.42, down 3 cents an ounce. LME Copper fell from the highest close in seven weeks after data showed manufacturing slowed in the US and before policy makers unveil growth targets in China. 3-month Copper is losing 1.38% or 81.50 points to trade at 5836.00, followed by the rest of the metals which are down around a percent each. WTI Crude Oil is gaining 1.21% or 61 cents to trade at 50.18 after having tested a high of 50.32 per barrel while Natural Gas tested a low of 2.64 before settling at 2.655, dropped over 1.5% or 4 cents per mmbtu.

Closing Summary, Market Synopsis: 3rd March, 2015

Markets closed at record highs: Markets end higher for the third straight session on sustained buying by fund and retail investors amid weak global cues. Shares of Reliance contributed the most to the rise on the Sensex after LIC increased its stake in the company. Markets have gained momentum in the last hour of trading with Nifty touching record high on persistent buying mainly in healthcare, consumer durables IT and energy stocks on the back of sustained foreign capital inflows. The Sensex ended higher by 134.5 points at 29593.7 and the Nifty was up 39.5 points at 8996.25. The rupee has depreciated by 4 paise to trade at 61.91 against the US dollar, extending Monday’s weakness due to sustained demand for the American currency from importers.

Morning Summary, Market Synopsis: 2nd March, 2015

Markets extend gains; Nifty opens above 8,950: Markets have started the session on a higher note after the Union Budget tabled by Finance Minister Arun Jaitley reduced corporate tax and announced a timeline to implement the General Sales Tax. The Budget laid thrust on infrastructure growth and also reduces the fiscal deficit to 3% in three years. With the Union Budget event out of the way, markets are likely to look forward to monetary policy easing measures and corporate developments.
At 9:45 AM, the S&P BSE Sensex was trading at 29530 up 168 points, while NSE Nifty was trading at 8960 up 60 points. The Mid-cap and Small-cap Index, both, is out-performing the broader indices. The market breadth indicating the overall health of the market is strong. The Indian rupee opened marginally lower at 61.89 per dollar versus 61.83 Friday. The euro trades around fresh one-month lows early in a subdued start to the week, while an interest rate cut in China over the weekend gives commodity currencies only a slight boost.

Closing Summary, Market Synopsis: 2nd March, 2015

Nifty ends above 8950, Mid-cap index at record closing high: Markets ended higher, amid a choppy trading session, led by infrastructure stocks and private lenders even as ITC extended losses in wake of the steep excise duty hike on cigarettes. The market breadth indicating the overall health of the market was strong. The Sensex ended higher by 97.64 points at 29459.1 and the Nifty was up 54.9 points at 8956.75. 
On the macroeconomic front, the HSBC Manufacturing Purchasing Managers' Index, compiled by Markit fell for the second consecutive month, to 51.2 in February from 52.9 in January implying that manufacturing activity expanded at its slowest pace in five months in February on slowdown in new orders dragging overall output. The Indian rupee witnessed profit taking after recent gains against the US dollar in the previous few sessions. The currency is trading lower at 61.97 compared to the previous close of 61.83 at the Interbank Foreign Exchange after the US dollar appreciated against other currencies. The dollar hit an 11-year high against a basket of currencies, partly as a result of a weaker Chinese Yuan and on growing prospects of a rise in interest rates from the U.S. Federal Reserve.