Tuesday, 28 October 2014

Markets open tad higher; Nifty reclaims 8,000.

opened marginally higher on Tuesday with the benchmark reclaiming the 8,000 mark. However, traders are likely to remain cautious ahead of the two-day FOMC meet which begins today.

At 9:16AM, the 30-share was up 55 points at 26,808 and the 50-share Nifty was up 15 points at 8,007.

On Monday, FIIs were net buyers to the tune of around Rs 49.14 crore

The Indian rupee was trading lower at Rs 61.36 compared to the previous day's close of Rs 61.30.

Asian markets are trading mixed with Japanese stocks remaining subdued ahead of the of US Federal Reserve's two day meeting and persisting decline in global crude price despite upbeat economic data released before the opening of market. Japanese retail sales in September rose 2.3% from a year earlier, government data showed, suggesting consumer spending is gradually picking up. NIkkei has declined around 0.8% and Strait Times is down around 0.5% while on the other hand Hang Seng has gained around 0.5% and Shanghai Composite is up around 0.8%.

U.S. stocks ended near flat on Monday as energy shares fell with another decline in oil prices while investors remain optimist about Federal Reserve's meeting outcome expecting it to maintain dovish stance on interest rates and a largely accommodative policy over the medium term. The Dow Jones industrial average rose 0.07% to 16,818, the S&P 500 lost 0.15% to 1,962 and the Nasdaq Composite was flat at 4,486.

TCS, ONGC, L&T, ICICI Bank, SBI and HDFC were among the top Sensex gainers while Infosys, Reliance Industries and HUL were among the top losers in early trades.

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