10:15 am Oil Update: Oil rebounded in Asia today on bargain-hunting after prices plunged a day earlier as Greek defiance against austerity measures imposed by its creditors sparked turbulence in global markets. Prices rose ahead of an emergency summit on Greece by eurozone leaders in Brussels on Tuesday, after Greek citizens overwhelmingly rejected creditors' demands for further belt-tightening in a referendum. US benchmark West Texas Intermediate for August delivery advanced 47 cents to USD 53.00 in late-morning Asian trade after plummeting nearly 8.0 percent, or USD 4.43, in US closing deals yesterday. Brent crude for August gained 69 cents to USD 57.23 after retreating more than 6.0 percent, or USD 3.78, in London. 10:00 am Market Check The market entered into consolidation mode after pricing in Greece crisis. The near term key trigger for the market would be April-June quarter earnings and monsoon. The Sensex rose 43.93 points to 28252.69 and the Nifty advanced 16.15 points to 8538.30. The broader markets outperformed benchmarks; the BSE Midcap and Smallcap indices gained 0.6 percent and 0.9 percent, respectively. The market breadth remained positive as about 1398 shares have advanced against 465 shares declined on the Bombay Stock Exchange. HDFC, Wipro and Coal India topped the buying list on Sensex, up 1-2 percent followed by ICICI Bank, Infosys, State Bank of India, Axis Bank and M&M with marginal gains. However, Reliance Industries, HUL, Lupin, Tata Motors, ITC, NTPC and ONGC declined 0.2-1 percent.
No comments:
Post a Comment