Early trends in SGX Nifty suggests a flat start
The Indian markets are likely to carry a positive baton from its previous trading sessions. Early trends in SGX Nifty suggests that Nifty may open around 11,089.50 level, up by 17.50 points. However, the sombre global cues and the rigid resistance zone of 11,112 to 11,170 might keep the up-move under check.
Today on earnings front, stocks such as Cadila Healthcare, DLF, Godrej Properties and Canara Bank are slated to announce their quarterly earnings.
Majority of the Asian indices on Wednesday were trading with losses over uncertainty of the US stimulus. China’s Shanghai Composite descended by 0.84 per cent. Also, Japan’s Nikkei 225 and Hong Kong’s Hang Seng has lost 0.62 per cent and 0.07 per cent, respectively.
Asian Markets
|
Asia Opening
|
Price
|
Change
|
% Change
|
|
Nikkei 225
|
22,433.40
|
-140.26
|
-0.62
|
|
Hang Seng
|
24,929.64
|
-16.99
|
-0.07
|
|
Shanghai
|
3,343.28
|
-28.41
|
-0.84
|
|
SGX Nifty
|
11,089.50
|
17.50
|
0.16
|
Index bellwether Reliance Industries and HDFC Bank were back in jubilant mood on Tuesday, helping key domestic benchmark indices to snap their four-day losing streak. Reliance Industries recorded a magnificent rally of 7 per cent and saw its substantial single-day gain since April 22. Sensex jumped 2.03 per cent to end at 37,687, whereas Nifty ended higher by 1.87 per cent at 11,095. On sectoral front, buying interest was witnessed across the board and as a result all sectoral indices apart from Nifty IT ended in green. The broader indices Nifty Mid-cap and Nifty Small-cap underperformed the frontline gauges. India VIX slumps nearly 6 per cent below 24 mark.
On Tuesday, optimism in the eleventh-hour of the trade aided the US stocks to end in green. The economic data published for the day was strong with factory orders rebounded more than expected in June. On the other hand, the uncertainty pertaining to the size and scope of the expected new fiscal package kept market participants dubious. Dow ended higher for the third day in a row. Nasdaq registered a record high close, while S&P 500 closed at its best level in five months. As the recent incoming data continued to paint a recovery picture, most of the European indices ended in green.
US Markets
|
US Closed
|
Price
|
Change
|
% Change
|
|
Dow
|
26,828.47
|
164.07
|
0.62
|
|
S&P 500
|
3,306.51
|
11.90
|
0.36
|
|
Nasdaq
|
10,941.17
|
38.37
|
0.35
|
|
GlobalDow
|
2,974.63
|
2.84
|
0.10
|
Europe Markets
|
Europe Closed
|
Price
|
Change
|
% Change
|
|
FTSE 100
|
6,036.00
|
3.15
|
0.05
|
|
DAX
|
12,600.87
|
-46.11
|
-0.36
|
|
CAC 40
|
4,889.52
|
13.59
|
0.28
|
|
FTSE MIB
|
19,613.95
|
234.16
|
1.21
|
|
IBEX 35
|
7,021.60
|
46.60
|
0.67
|
|
Stoxx 600
|
363.39
|
-0.25
|
-0.07
|
Commodity
|
Commodity
|
Price
|
Change
|
% Change
|
|
Gold
|
2028.10
|
7.10
|
0.35
|
|
Oil
|
41.56
|
-0.14
|
-0.34
|