24 November 2014

Get Live Intraday Tips Record high: Nifty hits 8500, Sensex strong;

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Today the intraday market opens at a record high once again. The Nifty hits 8500 in opening for first time. The 50-share index is at 8510, up 31.70 points while the Sensex is at 28461.77, up 120.46 pts. Metal stocks are up with Sesa, Hindalco and Tata Steel as major gainers. Infosys and Tata Motors are other gainers. Bajaj Auto, ITC, NTPC, HUL and Dr Reddy's Labs are among the losers.
The Indian rupee opened higher by 7 paise at 61.69 per dollar on Monday versus 61.76 Friday. The euro near a two-year trough against the dollar and was broadly weaker on prospects of more easing from the European Central Bank. In the US, markets surged to new all-time highs, thanks to a surprise interest rate cut from the People's Bank of China, the first such move in two years, to spruce up growth. Global markets too remained buoyant post the move.
Brent crude rose to USD 80 per barrel after a rally spurred by China's first interest rate cut in more than two years. Investors are also eyeing this week's meeting of the organization of the petroleum exporting countries at which the group would decide whether to cut output to trim global supply and boost oil prices that have fallen by 30 percent since June. From precious metals space, gold rose above USD 1200 an ounce after China's central bank cut interest rates.

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