Markets may open strong, but be cautious for the day!
The market witnessed high volatility in the last trading session on account of F&O June series expiry. Key benchmark indices oscillated both ways to end the day with modest losses. Early trend in SGX Nifty on Friday is indicating renaissance of bulls on Dalal Street. At 7:52 AM SGX Nifty is trading higher by 55.50 points at 10,291.50. This buoyancy on D-Street could be ascribed to a strong close on Wall Street overnight.
As India reported highest single day spike of Covid-19 cases, caution would be the order of the day. Also, today is the last trading session of the week. Hence, traders might stay light.
In the final trading session of the week, Asian indices are mostly trading higher. This is the result of strong close on Wall Street overnight. Japan’s Nikkei 225 is leading the way as it has jumped over 1 per cent.
Asian Markets
|
Asia Opening
|
Price
|
Change
|
% Change
|
|
Nikkei 225
|
22,511.31
|
251.12
|
1.13
|
|
Hang Seng
|
24,673.21
|
-108.37
|
-0.44
|
|
Shanghai
|
NA
|
NA
|
NA
|
|
SGX Nifty
|
10,291.50
|
55.50
|
0.54
|
Domestic indices witnessed wild swings on the eve of June series F&O expiry, and ended the day with modest losses. Nifty ended below 10,300 mark, registering loss of 0.16 per cent. whereas, Sensex dipped 0.08 per cent to settle at 34,842. The broader markets outperformed the frontline indices with Nifty Mid-cap and Nifty Small-cap ending higher by 0.89 per cent and 0.51 per cent, respectively. Advance-decline ratio was skewed in the favour of advancers as 1,019 stock advanced and 845 declined. On sectoral front, mixed trend was witnessed. Nifty FMCG and Nifty Pharma advanced the most whereas, Nifty IT and Nifty Reality registered themselves as top losers.
As the initial jobless claims remain elevated, markets lacked clear direction in the first half of the trading session. The US stocks broke the trammel and scaled higher as sentiment in financial stocks got boosted post the US regulator permitted easing restriction of the Volcker Rule. Further, the sentiment was aided by the spike in durable goods orders in May. At the closing bell, all three major indices on Wall Street ended Thursday’s session with gains of over 1 per cent. European indices too ended the day with decent gains.
US Markets
|
US Closed
|
Price
|
Change
|
% Change
|
|
Dow
|
25,745.60
|
299.66
|
1.18
|
|
S&P 500
|
3,083.76
|
33.43
|
1.10
|
|
Nasdaq
|
10,017.00
|
107.84
|
1.09
|
|
GlobalDow
|
2,820.46
|
5.32
|
0.19
|
Europe Markets
|
Europe Closed
|
Price
|
Change
|
% Change
|
|
FTSE 100
|
6,147.14
|
23.45
|
0.38
|
|
DAX
|
12,177.87
|
83.93
|
0.69
|
|
CAC 40
|
4,918.58
|
47.22
|
0.97
|
|
FTSE MIB
|
19,234.75
|
71.77
|
0.37
|
|
IBEX 35
|
7,270.30
|
74.80
|
1.04
|
|
Stoxx 600
|
359.74
|
2.57
|
0.72
|
Commodity
|
Commodity
|
Price
|
Change
|
% Change
|
|
Gold
|
1,771.40
|
0.80
|
0.05
|
|
Oil
|
39.22
|
0.50
|
1.29
|