SENSEX REBOUND AMID CONSOLIDATION , ASIAN STOCK SLIP

The market rebounded with marginal gains on Thursday. The Sensex rose 62.50 points to 29443.23 and the Nifty advanced 6.75 points to 8929.40.

The market breadth is positive in the morning deals. Out of 1,503 stocks have traded on the BSE - 984 stocks have advanced, while 469 stocks have declined.

M&M, Sun Pharma, ITC, Cipla, Bajaj Auto, BHEL, Tata Motors and L&T are prominent gainers in early trade while ICICI Bank, NTPC, GAIL, Infosys, HUL and Jindal Steel are under pressure. Reliance Infrastructure gained 2 percent and Pipavav Defence tanked 10 percent. Reliance Infrastructure has acquired 18 percent promoter's stake in Pipavav Defence for Rs 819 crore at Rs 63 apiece. Reliance Infra will make open offer for 26 percent stake in Pipavav at Rs 66/share. 

Asian stocks slipped on Thursday after Wall Street continued to pull back from record highs ahead of Friday’s closely-watched US jobs data, while the nervous euro languished at an 11-year low prior to the European Central Bank’s policy meeting.
The Indian rupee has opened lower, down 7 paise to 62.32 a dollar compared to 62.25 a dollar in previous session. Mohan Shenoi, Kotak Mahindra Bank says the overnight dollar rally against major currencies and weak global equity markets is likely to exert pressure on rupee today. He expects the rupee to trade in a range of Rs 62.20-62.50/USD today. 
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