Bulls continue to remain strong on D-Street today

The Nifty closed above the sturdy wall of resistance with a strong bullish candle in the last trading session. With the S&P 500 and Nasdaq registering a record high closing at Wall Street in overnight trade, brightened the possibility for the bulls to carry on the bullish momentum on D-Street today as well. At 7:50 am, Nifty futures were trading 23 points or 0.20 per cent higher around 11,434.50 levels on Singapore Exchange.

Asian stocks experienced a mix-bag on Wednesday morning with Japan's Nikkei 225 marginally up.  It is interesting to note here that Japan's exports fell in double digits for the fifth month in row in July, but it was less than what economists had anticipated. On the other hand, China's Shanghai Composite was down by 0.42 per cent as traders preferred to take profit off the table after an increase of nearly 3.5 per cent in the last five trading sessions.

Asian Markets

Tuesday turned out to be a green day for the Indian markets as Nifty and Sensex surged 1.23 and 1.26 per cent, respectively. Buying interest was seen in the broader indices as well with Nifty Mid-Cap and Small-Cap advancing 1.24 and 1.52 per cent, respectively. On the sectoral front, barring Nifty Pharma all other sector indices ended in green where Nifty Private Bank, Nifty Bank and Nifty Media were top gainers. However, the India VIX fell down by 4 per cent to 20.43.

Two of the three most widely followed indexes in the US, the Nasdaq and the S&P500 ended Tuesday's session in record territory, while the Dow closed with modest decline. With the housing construction activity coming in better than anticipated, the incoming economic data continued to provide confidence. European indices failed to hold on to their early gains and ended the session lower as the surge in the COVID-19 cases compelled investors to trade a cautious path.

US Markets

Europe Markets

Commodity