Bulls likely to make a comeback on D-Street
The early trends on SGX Nifty is indicating that the optimism is set to return on the D-Street due to positive sentiment from global peers. Further, the announcement of guidelines for ‘Unlock 2’ is aiding the sentiment. Today, all the eyes are on the Prime Minister as he is going to address the nation at 4 PM. While addressing to the nation, it is anticipated that PM might communicate the roadmap to fight against coronavirus and the government’s massive step to ban 59 Chinese mobile apps.
At 7:50 AM, SGX Nifty was trading up by 68.50 points at 10,315.50 levels.
Following a solid close on Wall Street overnight, Asian indices were seen advancing on Tuesday. Beating estimates, China’s factory activity expanded at a faster pace in June, further adding to positive sentiment. Japan’s Nikkei 225 gained the most followed by Hong Kong’s Hang Seng and China’s Shanghai Composite.
Asian Markets
|
Asia Opening
|
Price
|
Change
|
% Change
|
|
Nikkei 225
|
22,403.44
|
408.40
|
1.86
|
|
Hang Seng
|
24,485.80
|
184.52
|
0.76
|
|
Shanghai
|
2,971.14
|
9.62
|
0.32
|
|
SGX Nifty
|
10,315.50
|
68.50
|
0.67
|
Domestic benchmark indices started the week on a negative note. The reports of extension of lockdown in Maharashtra till July 31 and resurgence of coronavirus cases in the US remained major overhang. Though, in the last leg of trade indices trimmed some of its losses, but ended the day in red. Sensex closed down by 0.60 per cent below 35,000 mark and Nifty settled at 10,312 down by 0.68 per cent. The broader indices underperformed frontline gauges. Nifty Mid-cap and Nifty Small-cap lost 1.60 per cent and 1.38 per cent, respectively. On the sectoral front, except for Nifty FMCG, all other sectoral indices ended in the red. Nifty Realty and Nifty PSU Bank were the top losers. The advance-decline was skewed towards decliners.
On Monday, US stocks rallied amid favorable economic data. Pending home sales jumped 44.3 per cent MoM in May, beating the estimates. Dow led the rally as it advanced over 2 per cent followed by S&P 500 and Nasdaq. Monday turned out to be splendid day of trade for European indices as they logged decent gains post Eurozone economic sentiment continued to improve in June.
US Markets
|
US Closed
|
Price
|
Change
|
% Change
|
|
Dow
|
25,595.80
|
580.25
|
2.32
|
|
S&P 500
|
3,053.24
|
44.19
|
1.47
|
|
Nasdaq
|
9,874.15
|
116.93
|
1.20
|
|
GlobalDow
|
2,807.84
|
8.78
|
0.31
|
Europe Markets
|
Europe Closed
|
Price
|
Change
|
% Change
|
|
FTSE 100
|
6,225.77
|
66.47
|
1.08
|
|
DAX
|
12,232.12
|
142.73
|
1.18
|
|
CAC 40
|
4,945.46
|
35.82
|
0.73
|
|
FTSE MIB
|
19,447.02
|
322.66
|
1.69
|
|
IBEX 35
|
7,278.10
|
99.70
|
1.39
|
|
Stoxx 600
|
359.89
|
1.57
|
0.44
|
Commodity
|
Commodity
|
Price
|
Change
|
% Change
|
|
Gold
|
1,783.40
|
2.20
|
0.12
|
|
Oil
|
39.39
|
-0.30
|
-0.76
|