The Indian rupee appreciated more than 3 percent against US Dollar so far in the year to Rs 65.45/USD which was closer to a 17-month high of 65.36, a level which was last seen on October 30, 2015.
Brent crude futures, the international benchmark for oil, were at $51.02 per barrel at 0451 GMT, up 38 cents, or 0.8 percent, from their last close. That came after Brent briefly dipped below $50 a barrel on Wednesday for the first time since November.
Watch the interview of Prathamesh Mallya, Chief Analyst-Commodities & Currencies at Angel Commodities Broking with Manisha Gupta on CNBC-TV18. He spoke about the current trend in commodities market.
Ajay Srivastava of Dimensions Consulting feels the earnings trajectory could determine the direction in which the market will move going forward. He is positive on oil marketing companies.
At the Multi Commodity Exchange, gold for delivery in April fell Rs 57, or 0.20 percent, to Rs 28,828 per ten grams in a business turnover of 253 lots.
Spot gold was down 0.2 percent at $1,246.51 per ounce at 0353 GMT. On Wednesday, it touched its strongest since Feb. 28 at $1,251.26.
The National Stock Exchange on Wednesday introduced futures and options (F&O) contracts of 15 individual securities which include Reliance Defence, InterGlobe Aviation, Infibeam, Dalmia Bharat, among others. These will be available for trading from March 31, 2017.
On the back of strong macroeconomic data, a correction is overdue but relatively mild. It would not extend to 15-20 percent. The maximum downside is around 10 percent,” he said.
Equity benchmarks added to the morning gains after a strong opening; GAIL, Tata Motors and BPCL gained the most on both indices.
The USD-INR trading range for the day is seen between 65.30 and 65.60, says Mohan Shenoi of Kotak Mahindra Bank.
Domestic liquidity flows into the equity market seemed to have bolstered valuations given that all other asset classes including reality, gold, fixed deposits all look relative unattractively placed.
The Securities and Exchange Board (SEBI) of India is considering a fresh set of guidelines for exchange-traded funds (ETFs) with sectoral indices as the underlying, sources told Moneycontrol.
This still remains a market in which you will make money by buying the dips, but my only problem is that that the view was so consensus that the dip could be a bit more than you have bargained for.
A boring and useless day is foreseen by Ganesha. From 9.15 am to 14.30 pm, trade with a margin of 2 rupees, and if it is not necessary, just avoid trading, says Ganesha.
Watch Manisha Gupta of CNBC-TV18 speaking about the current trend in commodities market and currency market action.
Here are top cues from domestic as well as international markets, which could have a bearing on D-Street.
The Dow Jones Industrial Average declined 0.03 percent to end at 20,661.3 points, while the S&P 500 gained 0.19 percent to 2,348.45.
Japan's Nikkei gained 0.25 percent, thanks to a weaker yen.
Indian market consolidated for a fourth consecutive day in a row on Wednesday largely led by weak global cues.
The movement of the index for the next few days will be important for traders. The Moving Average Convergence and Divergence, popularly known as MACD, gave a 'sell' signal on the daily charts for the first time since February, 2017.
Coupled with earlier payouts, it is the largest-ever dividend outflow by any Indian company in a financial year.
Go for secular growth stories, where earnings have been predictable and corporate governance standards have been good, says Dipan Mehta Member BSE & NSE.
Leading bourse BSE today said all constituents of Sensex 50 should have a derivative contract for inclusion in the index from June onwards.