After heavy buying seen on Tuesday, the intraday market
seems to have taken a breather today. The Sensex is up 11.48 points at
23882.71, and the Nifty is up 3.25 points at 7112.00. About 386 shares have
advanced, 91 shares declined, and 22 shares are unchanged. M&M, ICICI Bank,
Tata Motors, Maruti and Infosys are top losers. Tata Steel, ITC, Cipla, Sun
Pharma and NTPC are big gainers in early morning.
In Europe, markets closed higher as investors mulled on
hopes of new measures by the European Central Bank to be announced soon. In the
currency space, disappointing US retail sales data for April pulled the dollar
off a one-month high against the euro on Tuesday.
In commodities, crude oil prices climbed to two-week highs
on expectations for another draw on stocks at contract's delivery point.
Meanwhile, Brent edged up, as traders doubted that Libyan oil exports would
soon rebound.
From precious metals space, gold rose marginally as the
metal is often seen as a safe-haven investment at times of political uncertainty.
Meanwhile platinum and palladium retained its sharp gains made overnight on
worries that increasing labor tensions in major producer South Africa could
hurt supply.
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