The market continues its uptrend in first session after the auspicious Mahurat trading. The Sensex is up 106.15 points at 26957.20 and the Nifty is up 49.80 points at 8064.35. About 498 shares have advanced, 116 shares declined, and 27 shares are unchanged. Dr Reddy's Labs, TCS, BHEL and HUL are top gainers in the Sensex. Among the losers are Wipro, GAIL, Cipla and Sun Pharma. The Indian rupee opened higher by 11 paise at 61.17 per dollar versus 61.28 Wednesday. The euro held firm in early trade after the European Central Bank's stress tests found smaller capital shortfalls among European Banks than expected. Traders will be looking to Germany's IFO business sentiment index due later today. Pramit Brahmbhatt of Veracity said, "After a long weekend, equity markets are likely to trade sideways and will take cues from global markets for further directions. Rupee is expected to trade firm, although strength in dollar could cap upside moves in rupee altogether. Range for the USD-INR seen between Rs 60.80-61.80/dollar." US stocks climbed on Friday, with Wall Street derailing a four-week slide with its best week this year, as quarterly results from companies including Microsoft and Procter & Gamble inspired investor enthusiasm. In addition, the Federal Reserve will begin its 2-day policy meeting on Tuesday. The fed is expected to end its 3rd round of bond buying with investors eyeing clues on rate hike timings. In Europe, concerns about the results of Europe's bank stress tests and the first Ebola case in New York, weighed on investor sentiment ending the FTSE Friday's session down around half a percent. Moreover, other core indices, CAC and DAX were down around seven tenths of a percent. Brent crude slipped below USD 86 a barrel amid abundant supply and weak demand. And in metals space, gold edged lower as rallying equity markets and strong us economic data dented demand for the precious metal as an insurance against risk.
Monday 27 October 2014
Nifty breaches 8050, Sensex firm; HUL up, Wipro falls 2%
The market continues its uptrend in first session after the auspicious Mahurat trading. The Sensex is up 106.15 points at 26957.20 and the Nifty is up 49.80 points at 8064.35. About 498 shares have advanced, 116 shares declined, and 27 shares are unchanged. Dr Reddy's Labs, TCS, BHEL and HUL are top gainers in the Sensex. Among the losers are Wipro, GAIL, Cipla and Sun Pharma. The Indian rupee opened higher by 11 paise at 61.17 per dollar versus 61.28 Wednesday. The euro held firm in early trade after the European Central Bank's stress tests found smaller capital shortfalls among European Banks than expected. Traders will be looking to Germany's IFO business sentiment index due later today. Pramit Brahmbhatt of Veracity said, "After a long weekend, equity markets are likely to trade sideways and will take cues from global markets for further directions. Rupee is expected to trade firm, although strength in dollar could cap upside moves in rupee altogether. Range for the USD-INR seen between Rs 60.80-61.80/dollar." US stocks climbed on Friday, with Wall Street derailing a four-week slide with its best week this year, as quarterly results from companies including Microsoft and Procter & Gamble inspired investor enthusiasm. In addition, the Federal Reserve will begin its 2-day policy meeting on Tuesday. The fed is expected to end its 3rd round of bond buying with investors eyeing clues on rate hike timings. In Europe, concerns about the results of Europe's bank stress tests and the first Ebola case in New York, weighed on investor sentiment ending the FTSE Friday's session down around half a percent. Moreover, other core indices, CAC and DAX were down around seven tenths of a percent. Brent crude slipped below USD 86 a barrel amid abundant supply and weak demand. And in metals space, gold edged lower as rallying equity markets and strong us economic data dented demand for the precious metal as an insurance against risk.
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