The market started the week on a positive note on Monday. The Sensex climbed 93.78 points to 28787.77 while the Nifty reclaimed 8600, up 25.95 points at 8614.20. About 728 shares have advanced, 274 shares declined, and 43 shares are unchanged on the Bombay Stock Exchange. Sun Pharma, SBI, Hero Motocorp, NTPC, Infosys, Asian Paints, BPCL and HCL Technologies topped the buying list in early trade, up 1-3.6 percent. However BHEL, Coal India, Reliance Industries, HUL, ONGC, Cairn India and DLF lost 0.5-2 percent. The Indian rupee slipped by 21 paise in the early trade on Monday. It has opened at 62.23 per dollar versus 62.02 on Friday. Agam Gupta of Standard Chartered said," The dollar strength against other currencies is leading a similar move with the rupee too. The demand from the local government banks is persistent and is expected to continue." He further added, "Foreign inflows are expected to continue and exporters are likely to sell on upticks to Rs 62.50/dollar. We expect to see a range of Rs 62.10-62.50/dollar for the day." Meanwhile, Asian markets are mixed this morning, as Japan's benchmark index rose to a seven-year peak while Yen marked a new seven-year low. China's official PMI fell to 50.3 in November, missing estimates for a 50.6 figure and slowing from October's reading of 50.8. In the US, Wall Street finished lacklustre on Friday amid a slide in oil prices. The Dow Jones and the Nasdaq ended flat and the S&P 500 was down a quarter of a percent. The Dow and S&P 500 posted a second straight month of gains. Meanwhile the US ten year bond yield dipped sharply to 2.17 percent. In commodities, Nymex crude was down 10.2 percent hitting its lowest settlement since September 2009, currently trading at USD 64. Meanwhile, Brent is trading below USD 70 per barrel. From precious metals space, gold slid 2 percent and silver slumped more than 6 percent to its lowest since 2009 after Swiss voters overwhelmingly rejected proposals on Sunday to boost gold reserves.
Monday 1 December 2014
Nifty reclaims 8600, Sensex rises; Hero, Sun Pharma rally
The market started the week on a positive note on Monday. The Sensex climbed 93.78 points to 28787.77 while the Nifty reclaimed 8600, up 25.95 points at 8614.20. About 728 shares have advanced, 274 shares declined, and 43 shares are unchanged on the Bombay Stock Exchange. Sun Pharma, SBI, Hero Motocorp, NTPC, Infosys, Asian Paints, BPCL and HCL Technologies topped the buying list in early trade, up 1-3.6 percent. However BHEL, Coal India, Reliance Industries, HUL, ONGC, Cairn India and DLF lost 0.5-2 percent. The Indian rupee slipped by 21 paise in the early trade on Monday. It has opened at 62.23 per dollar versus 62.02 on Friday. Agam Gupta of Standard Chartered said," The dollar strength against other currencies is leading a similar move with the rupee too. The demand from the local government banks is persistent and is expected to continue." He further added, "Foreign inflows are expected to continue and exporters are likely to sell on upticks to Rs 62.50/dollar. We expect to see a range of Rs 62.10-62.50/dollar for the day." Meanwhile, Asian markets are mixed this morning, as Japan's benchmark index rose to a seven-year peak while Yen marked a new seven-year low. China's official PMI fell to 50.3 in November, missing estimates for a 50.6 figure and slowing from October's reading of 50.8. In the US, Wall Street finished lacklustre on Friday amid a slide in oil prices. The Dow Jones and the Nasdaq ended flat and the S&P 500 was down a quarter of a percent. The Dow and S&P 500 posted a second straight month of gains. Meanwhile the US ten year bond yield dipped sharply to 2.17 percent. In commodities, Nymex crude was down 10.2 percent hitting its lowest settlement since September 2009, currently trading at USD 64. Meanwhile, Brent is trading below USD 70 per barrel. From precious metals space, gold slid 2 percent and silver slumped more than 6 percent to its lowest since 2009 after Swiss voters overwhelmingly rejected proposals on Sunday to boost gold reserves.
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