Wednesday, 9 December 2015

Sensex gains over 100 pts, Nifty below 7650; ONGC down -- 10 Dec 2015

After weakness for six consecutive days, the market has rebounded on Thursday. The Sensex is up 106.93 points or 0.4 percent at 25142.98, and the Nifty is up 31.85 points or 0.4 percent at 7644.35. About 682 shares have advanced, 201 shares declined, and 36 shares are unchanged.

Currency markets have already priced in a US Fed rate hike on the 16th of this month. Less than expected monetary easing by ECB and year-end unwinding of positions has led to a risk-off scenario." "With Indian equities biased lower, USD-INR is expected to trade today in a range of 66.75-67," he said. The dollar fell as commodity currencies reverse steep losses and as the euro rises after investors shift back into the single currency. Asian stocks slipped as weak oil prices continued to feed global growth worries, while the euro held solid gains after a policymaker poured cold water on market expectations of more easing by the European Central Bank. US stocks closed lower on Wednesday in a choppy session as oil resumed its decline, fuelling investor worries about global economic growth and causing the S&P 500 index to track the move in the commodity.

The 30-share index was trading at 25,128, up 92 points or 0.37 per cent. It touched a high of 25,175.82 and a low of 25,119.28 in morning trade. 

The Nifty50 was at 7,636 up 24 points or 0.32 per cent. It touched a high of 7,651.50 and a low of 7,633.80 in the first 30 minutes of trade.

The S&P BSE Midcap Index was up 0.24 per cent and BSE S&P Smallcap Index was trading 0.61 per cent higher. 

Hindalco (up 1.5 per cent), RIL (up 1.2 per cent), HUL (up 1.04 per cen .. 

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