Markets eye positive opening
Indian markets are likely to open the first trading session of the week on a positive note based upon positive global cues. At 7:55 am, SGX Nifty was trading with gains of 47.50 points at 11,423.50 levels. However, going by the past records it is noticed that the life above the 11,400 mark is not comfortable for the bulls. Every time Nifty has attempted to move past this mark, it has been met with profit booking.
If Nifty sustains above the 11,410 mark for the initial one hour of trade, we witness the gains extending, making it a crucial one hour of the opening. However, if it fails to do so then it would be a repeat of Friday, where markets opened gap up and later in the day trimmed their gains.
Market participants would also keep a watchful eye on the outcome of AGR dues payment hearing in Supreme Court.
Majority of the Asian markets are seen advancing higher on Monday following record high closing on Wall Street on Friday on back of better than expected economic data. The Hong Kong's Hang Seng has jumped 1.68 per cent and trading above 25,500 mark. While the Japan's Nikkei has reclaimed its important psychological level of 23,000 and China's Shanghai Composite is trading with miniscule gains.
Asian Markets
|
Asia Opening
|
Price
|
Change
|
% Change
|
|
Nikkei 225
|
23,008.34
|
88.04
|
0.38
|
|
Shanghai
|
3,384.83
|
4.15
|
0.12
|
|
Hang Seng
|
25,519.12
|
405.28
|
1.61
|
|
SGX Nifty
|
11,423.50
|
47.50
|
0.42
|
Indian markets on Friday trimmed their initial gains and ended the session with gains of just over half a per cent. The Sensex added 0.56 per cent, while the Nifty advanced 0.53 per cent. The broader markets were buzzing with the Nifty Mid-Cap and Small-Cap gaining 0.49 and 1.03 per cent, respectively. The Volatility index, India VIX dropped nearly 4.5 per cent and slipped below 20-mark. Talking about the sectoral indices, Nifty PSU Bank, Nifty Bank and Nifty Private Bank were top gainers, on other hand; Nifty Media and Nifty Metal were top losers.
US stocks were in jubilant mood lifted by the pleasant economic data on the final trading session of the week as existing home sales jumped 24.7 per cent in July from June and the US business activity expanded at swift pace. The Nasdaq and the S&P 500 registered new record closing highs. Whereas, the Dow Jones outperformed its counterpart as it gained 0.69 per cent for the day. Meanwhile, weighed down by pale economic data, the European region stocks closed lower for the second straight day.
US Markets
|
US Closed
|
Price
|
Change
|
%Change
|
|
Dow
|
27,930.33
|
190.60
|
0.69
|
|
S&P 500
|
3,397.16
|
11.65
|
0.34
|
|
Nasdaq
|
11,311.80
|
46.85
|
0.42
|
|
GlobalDow
|
3033.50
|
6.84
|
0.22
|
Europe Markets
|
Europe Closed
|
Price
|
Change
|
%Change
|
|
FTSE 100
|
6,001.89
|
-11.45
|
-0.19
|
|
DAX
|
12,764.80
|
-65.20
|
-0.51
|
|
CAC 40
|
4,896.33
|
-14.91
|
-0.30
|
|
FTSE MIB
|
19,695.43
|
-71.53
|
-0.36
|
|
IBEX 35
|
6,982.10
|
-11.20
|
-0.16
|
|
Stoxx 600
|
365.09
|
-0.55
|
-0.15
|
Commodity
|
Commodity
|
Price
|
Change
|
% Change
|
|
Gold
|
1,940.20
|
-6.80
|
-0.35
|
|
Oil
|
42.41
|
0.07
|
0.17
|