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Thursday, 1 January 2015

Sensex gains over 250 pts; HDFC gains 2%, Bajaj Auto weak

The market is back into action with a roar. The Sensex is up 274.44 points or 1 percent at 27781.98, and the Nifty is up 79.65 points or 0.9 percent at 8363.65. About 1393 shares have advanced, 439 shares declined, and 877 shares are unchanged.

HDFC is up 2 percent while Tata Motors, ICICI Bank, ONGC and BHEL are top gainers in the Sensex. Among the losers are Bajaj Auto, Bharti Airtel and Hero.

The rupee fell by 14 paise to 63.49 a dollar in early trade today at the Interbank Foreign Exchange market as the US currency strengthened overseas. Dealers said besides dollar's gains against other currencies overseas, increased demand for the American unit from importers also put pressure on the rupee.

Domestic equity markets opening with early gains, however, capped the losses, they said.

The euro started the new year at 29-month lows in Asia after the head of the head of the European  Central Bank fanned expectations it would take bolder steps on stimulus this month, so underlining the US dollar's rate advantage.

The ECB council meets on Jan. 22 and markets are wagering it will finally decide to start buying sovereign debt, following in the footstep of the US, UK and Japan. That kept the single currency down at USD 1.2082, depths last seen in mid-2012, while the dollar held firm against a basket of currencies having ended 2014 with its biggest annual increase since 1997. More information please visit this site

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