10:35am Euro at
9-year low
The euro hit a nearly nine-year low versus the dollar as
investors bet on quantitative easing by the European Central Bank while Asian
shares were subdued as soft manufacturing surveys soured the mood.
The euro fell to as low as USD 1.18605, its weakest level
since March 2006, having fallen below an important support at USD 1.20. The
common currency last traded at USD 1.1955, down 0.4 percent from late US trade
on Friday.
In an interview with German financial daily Handelsblatt,
ECB President Mario Draghi said the risk of the central bank not fulfilling its
mandate of preserving price stability was higher now than half a year ago.
Economists forecast that Wednesday's euro zone inflation
data will show prices fell 0.1 percent in December for the first time since
2009.
That should fan expectations the ECB could ease its policy
as soon as Jan. 22, when it will hold its first policy meeting this year,
reports Reuters.
10:20am Market Expert
2015 will be a good year for Indian equities, believes Hiren
Ved, director and CIO, Alchemy Capital Management. According to him, there are
lot of macro positives like lower oil prices, slide in interest rates and a
hope of earnings pick up from next quarter that might continue driving the
market.
In an interview Ved says market may give double-digit
returns this year led by a turnaround in the overall economic growth. He
believes companies with good-shaped balance sheets will provide better returns
in 2015.
10:00am Market Check
Equity benchmarks continued to trade higher with the Sensex
rising 136.94 points to 28024.84 and the Nifty climbing 37.25 points to
8432.70. The broader markets outperformed frontline indices with the BSE Midcap
and Smallcap indices gaining 0.8 percent.
The market breadth was positive. About three shares advanced
for every share declining on the Bombay Stock Exchange.
Ashok Leyland was among the most active stocks on exchanges,
rising more than 7 percent after strong sales data in December. The commercial
vehicle maker sold 9290 units in the month gone by, up 48 percent compared to
same period last year.
Infosys, ICICI Bank, Tata Motors, LIC Housing Finance,
L&T, Marksans Pharma and Den Networks were other most active shares.
Maruti Suzuki topped the buying list on Sensex, up 2.4
percent followed by L&T with 1.8 percent gains. ICICI Bank, M&M, Wipro,
Tata Steel, Sesa Sterlite and Tata Power gained 1-1.7 percent while Dr Reddy's
Labs fell over 1 percent. HDFC, NTPC, Bharti Airtel, Hindalco and Coal India
were marginally in red. More information please visit this site www.bigprofitbuzz.com
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