High volatility was witnessed as key benchmark indices regained positive terrain after slipping into the red in morning trade. The barometer index, the S&P BSE Sensex was currently up 16.08 points or 0.06% at 28,723.83. The market breadth indicating the overall health of the market was positive. Pharma stocks declined.
Global rating agency, Moody's Investors Service today, 9 April 2015, changed India's outlook to positive, saying there was an increasing probability that actions by policy makers will enhance the country's economic strength and, in turn, the sovereign's financial strength over coming years.
Foreign portfolio investors (FPIs) sold shares worth a net Rs 479.18 crore yesterday, 8 April 2015, as per provisional data. Domestic institutional investors (DIIs) bought shares worth a net Rs 382.54 crore yesterday, 8 April 2015, as per provisional data.
In the foreign exchange market, the rupee edged lower against the dollar.
Brent crude oil futures edged higher after yesterday's sharp losses, that was triggered by a shock jump in US crude inventories and record Saudi output.
In overseas markets, Asian markets were mixed today, 9 April 2015. US stocks posted modest gains yesterday, 8 April 2015, after a volatile session following the minutes of Federal Reserve's last meeting.
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At 10:26 IST, the S&P BSE Sensex was up 16.08 points or 0.06% at 28,723.83. The index gained 167.33 points at the day's high of 28,875.08 in early trade, its highest level since 19 March 2015.. The index fell 85.31 points at the day's low of 28,622.44 in morning trade.
The CNX Nifty was up 2.50 points or 0.03% at 8,716.90. The index hit a high of 8,759.90 in intraday trade, its highest level since 19 March 2015.. The index hit a low of 8,682.45 in intraday trade.
The BSE Mid-Cap index was up 47.80 points or 0.43% at 11,069.97. The BSE Small-Cap index was up 56.66 points or 0.49% at 11,692.04. Both these indices outperformed the Sensex.
The market breadth indicating the overall health of the market was positive. On BSE, 1,151 shares gained and 876 shares fell. A total of 88 shares were unchanged.
Pharma stocks declined. Sun Pharmaceutical Industries (down 2.07%), Lupin (down 2.78%), Wockhardt (down 1.45%), Strides Arcolab (down 1.55%), Dr Reddy's Laboratories (down 1.22%), Shasun Pharmaceuticals (down 1.47%), Divi's Laboratories (down 0.42%), and Glenmark Pharmaceuticals (down 1.5%) declined.
Biocon fell 1.7% on turning ex-dividend today, 9 April 2015, for interim dividend of Rs 5 per share for the year ended 31 March 2015.
In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 62.2625, compared with closing of 62.24 during the previous trading session.
Brent crude oil futures edged higher after yesterday's sharp losses, that was triggered by a shock jump in US crude inventories and record Saudi output. Brent for May settlement was up 68 cents at $56.23 a barrel. Brent for May settlement was down $3.55 a barrel or 6% at $55.55 a barrel yesterday, 8 April 2015.
A 10.95 million-barrel surge in US crude stockpiles to 482.4 million last week, the biggest gain in 14 years, and Saudi oil production of 10.3 million barrels a day in March had battered crude futures yesterday, 8 April 2015.
Moody's Investors Service today, 9 April 2015, changed India's outlook to positive, saying there was an increasing probability that actions by policy makers will enhance the country's economic strength and, in turn, the sovereign's financial strength over coming years.
Moody's said it expected structural advantages, supported by relatively benign global commodity prices and liquidity conditions, will keep India's growth higher than that of its peers over the rating horizon. The ratings agency affirmed India's Baa3 rating.
Asian markets were mixed today, 9 April 2015. Key indices in China, Indonesia, and Singapore fell by 0.1% to 1.24%. Key indices in Hong Kong, Taiwan, Japan, and South Korea rose by 0.04% to 3.67%.
Trading in US index futures indicates that the Dow Jones industrial average could fall 5 points at the opening bell today, 9 April 2015. US stocks posted modest gains yesterday, 8 April 2015, after a volatile session following the minutes of Federal Reserve's last meeting.
Minutes of the Federal Reserve's last meeting showed the Fed was still on course to hike interest rates this year. Fed officials acknowledged risks from overseas and a weak start to the year at their March meeting but remained confident enough in the strength of the recovery to continue laying the groundwork for an interest rate hike later this year, the minutes showed.
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