The BSE Sensex
saw a volatile session on Tuesday and the market closed marginally
higher at 18704.53. Domestic factors are still not supportive for the
local market with no fresh triggers for a bull run.
On the global front, Asian shares eased and the euro remained under pressure on Thursday as investors fretted over the euro zone after a weak debt auction in Italy and the potential for a run on Cyprus's banks when they reopen later in the day. The global factors are still not supportive for the Indian market to have a decent rally ahead of closing week.
Cyprus imposed restrictions on cash withdrawals and may curb the use of credit cards abroad to keep a rein on money flows after the country agreed to a bailout deal that will wipe out some senior bank bondholders and impose losses on large depositors. Cypriots are expected to besiege lenders in the morning.
The Italian government's cost of borrowing over five years rose to its highest since October at an auction on Wednesday, reflecting investor wariness over a lack of progress in forming a new government and worries about Cyprus's bailout. Italy's interest cost on new 10-year debt fell, however.
The US, markets erase most of their early declines to close narrowly mixed, with the S&P 500 finishing slightly below its closing high, but ongoing economic and political concerns over Europe kept a lid on gains. Trading was thin ahead of the three-day Easter weekend. The CBOE volatility index closed slightly above 13.
The euro extended its losses below 1.28 against the dollar. its lowest level in four months weighed down by a weak Italian bond auction and concerns that Cyprus' recent rescue deal. The dollar strengthens above 83. The Brent crude rises to USD 109 levels. NYMEX rises to USD 96 a barrel
On the global front, Asian shares eased and the euro remained under pressure on Thursday as investors fretted over the euro zone after a weak debt auction in Italy and the potential for a run on Cyprus's banks when they reopen later in the day. The global factors are still not supportive for the Indian market to have a decent rally ahead of closing week.
Cyprus imposed restrictions on cash withdrawals and may curb the use of credit cards abroad to keep a rein on money flows after the country agreed to a bailout deal that will wipe out some senior bank bondholders and impose losses on large depositors. Cypriots are expected to besiege lenders in the morning.
The Italian government's cost of borrowing over five years rose to its highest since October at an auction on Wednesday, reflecting investor wariness over a lack of progress in forming a new government and worries about Cyprus's bailout. Italy's interest cost on new 10-year debt fell, however.
The US, markets erase most of their early declines to close narrowly mixed, with the S&P 500 finishing slightly below its closing high, but ongoing economic and political concerns over Europe kept a lid on gains. Trading was thin ahead of the three-day Easter weekend. The CBOE volatility index closed slightly above 13.
The euro extended its losses below 1.28 against the dollar. its lowest level in four months weighed down by a weak Italian bond auction and concerns that Cyprus' recent rescue deal. The dollar strengthens above 83. The Brent crude rises to USD 109 levels. NYMEX rises to USD 96 a barrel
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