Wednesday 2 September 2015

Sensex up over 150 pts, Nifty opens above 7750; banks lead -- 3 Sep 2015

The Indian rupee has opened lower by 6 paise at 66.25 per dollar today against previous day's closing of 66.19.

                                     
The market has started off Thursday's session on a strong note, led by short covering following weakness in previous three consecutive sessions. The 30-share BSE Sensex rallied 161.13 points or 0.63 percent to 25,614.69 and the 50-share NSE Nifty climbed 56.85 or 0.74 percent to 7,773.85.ICICI Bank, HDFC Bank, L&T, Infosys and HDFC are leading contributors to Nifty. The Indian rupee has opened lower by 6 paise at 66.25 per dollar today against previous day's closing of 66.19. Mohan Shenoi of Kotak Mahindra Bank said, "Currency markets remain volatile as concerns about China continue to impact all markets. ECB rate setting meeting later today and US Payroll data tomorrow will determine the near-term direction of the market." "With RBI presence in the market, USD-INR is expected to trade today in a range of 66-66.40/dollar," he added. On the global front, the US market rallied over 1 percent to end near session highs. Nasdaq outperformed, pulling out of correction territory. Asian markets, too, are positive on a strong positive US handover. The Nikkei was up almost 1.5 percent in early trade but still down 4 percent for the week. European Central Bank (ECB) decision is due today. No major policy changes are expected to be announced by the central bank's president Mario Draghi, but he may stress that extra support in the future is possible. In other asset classes, the dollar gained as global stock markets steadied and US hiring data encouraged speculation that the Federal Reserve policymakers will raise interest rates later this month. Nymex crude prices rose over 2 percent overnight to USD 46 per barrel, recovering some earlier losses as refined products' data supported prices. Brent is currently trading above the USD 50 mark. And precious metal gold continued to trade around USD 1130 per barrel.

For More Detail Visit -- http://www.allianceresearch.in/
Or Call On - 0761-4025251, 9993716323



1 comment:

  1. "The lower-than-expected GDP growth figure continues to dampen trading sentiments" clearly means that talk about 'Acche Din' and 'Make in India' etc have remained merely mirage.

    ReplyDelete