Morning capsule: Will Nifty end this week on cheerful note?
The Sensex surged 160.93 points to close at 19413.54 while the Nifty ended at 5863.30, up 44.70 points on Thursday. The Nifty rallied 2.9 percent in the last three trading sessions.
March 08, 2013 / 09:06 IST
Moneycontrol Bureau
The Sensex surged 160.93 points to close at 19413.54 while the Nifty ended at 5863.30, up 44.70 points on Thursday. The Nifty rallied 2.9 percent in the last three trading sessions. Asian markets are trading firm today. At 7: 55 am (IST), China's Shanghai Composite was down 0.34% or 7.83 points at 2,316.46.Hong Kong's Hang Seng gained 0.90% or 206.06 points at 22,977.50. Japan's Nikkei added 1.93% or 231.41 points at 12,199.49.Singapore's Straits Times was down 0.12% or 4.12 points at 3,294.42. South Korea's Seoul Composite was up 0.10% or 1.99 points at 2,006.39. Taiwan's Taiwan Weighted advanced 0.73% or 58.34 points at 8,018.85.Meanwhile, US markets finished higher with the Dow posting fresh all-time highs for the third-straight day, following an upbeat weekly jobless claims report and ahead of the widely-watched monthly government jobs data. For the week so far, all three major averages are up more than 1 percent across the board and the S&P 500 and Nasdaq are on pace for their biggest weekly gains in nine weeks. The CBOE volatility index slid near 13. On economic data front, jobless claims unexpectedly declined to a seasonally adjusted 340,000 last week, versus an expectation of 355,000 and US trade deficit expands to USD 44.45 billion in January.In important data to watch out for in u-s today nonfarm payrolls are expected to rise 171,000 in February versus 157,000 jobs added the prior month. Also unemployment rate is expected to dip to 7.8% versus 7.9% in January.European markets ended flat as the ECB left its benchmark interest rate unchanged.The ECB left its main refinancing rate unchanged at a record low of 0.75 percent. However, addressing the media post the rate decision, ECB president Mario Draghi said that the ECB governing council considered cutting rates.The Bank of England left its key interest rate unchanged at the record low of 0.5%. The British central bank also voted to leave its quantitative easing budget unchanged at 375 billion pounds.Speaking to the media, ECB president Mario Draghi said the eurozone weakness is continuing in the near-term. But he is hopeful that the economy will revive as the private sector is showing some signs of recovery.CurrencyThe euro rises to 1.31 to the dollar. The dollar index slips towards the 82 markCommoditiesBrent crude prices hover around USD 110 levelsStocks in News RCF has fixed the floor price for the march 8 OFS at Rs 45/share. The current market price of RCF is Rs 43.9/share & hence the OFS floor price is at a premium of 2.5%. The government holds 92.5% stake in RCF & plans to divest 12.5% stake in the company.The Mahindra Holidays offer for sale has been subscribed 2.6 times and raised Rs 249 crore. The total issue size was 34 lakh shares and the indicative price is seen at Rs 272.77 a share. The floor price has been set at Rs 270 a shareMedia reports indicate that Bharti Airtel is planning to sell up to 25% in satellite TV unit. Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
