16 September 2015

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It's a bright start for the Indian stock market this morning, with investors indulging in some brisk buying in early trades, tracking positive global cues. A slight easing of FDI norms and expectations of a rate cut announcement from the Reserve Bank of India later this month are also contributing to the market's firm start. Meanwhile, investors are looking ahead to the U.S. Federal Reserve's monetary policy meeting that gets underway today.
The Intraday market has opened on Wednesday with some strength. The Sensex is up 160.76 points or 0.6 percent at 25866.69 and the Nifty is up 41.15 points or 0.5 percent at 7870.25. About 532 shares have advanced, 110 shares declined, and 20 shares are unchanged. Vedanta, Sun Pharma, Hindalco, Tata Steel and Tata Motors are gainers in the Sensex. The Indian rupee opened lower by 7 paise at 66.43 per dollar against 66.36 Tuesday.
One can stay invested in PSU bank stocks as some upside looks very likely over the next couple of months. SBI, Canara Bank, Bank of Baroda and Bank of India look good.
The Indian stock market has opened on a firm note this morning, tracking global cues. The government's decision to ease foreign direct investment norms by allowing partly-paid shares and warrants as eligible capital instruments is also aiding sentiment.

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