Tuesday, 17 February 2015

Market breadth turns negative from positive

A bout of volatility was witnessed as key benchmark retained positive zone in early afternoon trade after the latest data showed that the annual rate of based on monthly wholesale price index was in negative zone January 2015. The market breadth indicating the overall health of the market turned negative from positive. The barometer index, the S&P Sensex, was currently up 85.23 points or 0.29% at 29,180.16.
Housing finance major HDFC rose after good Q3 results. Pharmaceutical shares were mixed.
Earlier, the and the 50-unit CNX Nifty had, both, hit their highest levels in almost 2-1/2 weeks in early trade.
Foreign portfolio investors bought shares worth a net Rs 390.26 crore during the previous trading session on Friday, 13 February 2015, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) bought shares worth a net Rs 95.82 crore on Friday, 13 February 2015, as per provisional data.
In the foreign exchange market, the rupee edged lower against the dollar.
Brent crude oil futures edged lower after a rally during the previous trading session on Friday, 13 February 2015. Global crude oil prices have bounced back over the past few days after a steep slide in prices over the past few months. The recent rebound in global crude oil prices will raise concerns pertaining to India's fiscal deficit, current account deficit and fuel price inflation. India imports about 80% of its crude oil requirements.

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