Friday, 15 May 2015

Morning Summary, Market Synopsis: 15 th May, 2015

Markets turn choppy; Tata Steel slumps over 2%: Markets have started the session on a marginally positive note tracking higher global cues. By 9:28, the Sensex was at 27,306, higher by 101 points and the Nifty is up at 8,258, up 34 points. Asian shares gained in early trading on Friday, on track for a weekly rise, after Wall Street cheered a cool reading for producer price inflation that chilled expectations of a Federal Reserve rate hike. Rate-sensitive sectors mainly financials and auto are leading gains as the further softening in retail inflation to a four-month low of 4.87% in April gave rise to hopes of a rate-cut by the RBI. On the losing side, Tata Steel has plunged by almost 2%. The company announced a Rs 6,500-crore goodwill impairment charge for the loss of value of operations in Europe, Canada, and Mozambique in 2014-15.

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