A jaded start for the markets
On Thursday, bulls stormed the D-street as Indian markets registered one of best single day gains after June 1. This single day rally was led by Banking and Financial stocks. The early trends on SGX Nifty is indicating the start of Friday to be on a flat note. At 7:55 AM, SGX Nifty was trading almost unchanged at 10,034.50 levels. This could be ascribed to the mixed trend seen across the global markets.
Ensuing mixed cues from Wall Street overnight, stocks in Asia-pacific dearth of clear direction. Japan’s Nikkei 225 and China’s Shanghai Composite were in green, whereas Hong Kong’s Hang Seng was trading in a negative terrain.
Asian Markets
|
Asia Opening
|
Price
|
Change
|
% Change
|
|
Nikkei 225
|
22,391.92
|
36.46
|
0.16
|
|
Hang Seng
|
24,401.53
|
-63.41
|
-0.26
|
|
Shanghai
|
2,948.47
|
9.15
|
0.31
|
|
SGX Nifty
|
10,034.50
|
1.00
|
0.01
|
As markets posted their biggest single-day gain after June 1, Indian markets were on cloud nine on Thursday. This was amid apex court allowing the Department of Telecommunications (DoT) time till third week of July to consider the telecom companies proposal on making payment for the AGR dues. Nifty ended the day with gains of 2.13 per cent at 10,092 and Sensex advanced 2.09 per cent to finish at 34,208. The rally was well supported by across the broad participants as except for Nifty Pharma all the sectoral indices ended higher and the market breadth too was inclined strappingly towards the advancing side.
On Thursday, stocks on Wall Street oscillated both ways before ending the session on a mixed note. Dow ended with minuscule losses, while the tech-heavy Nasdaq and S&P 500 ended with modest gains. Nasdaq registered gains for the fifth consecutive day. On the economic front, weekly initial jobless claims remain elevated. On the flipside, the Philly Fed Manufacturing index in June out of the blue gushed into expansion territory. Meanwhile, the European stocks staged a recovery from lower levels but still ended the day in red. The Bank of England kept its benchmark interest rate unchanged and it further expanded its bond-buying program.
US Markets
|
US Closed
|
Price
|
Change
|
% Change
|
|
Dow
|
26,080.10
|
-39.51
|
-0.15
|
|
S&P 500
|
3,115.34
|
-1.85
|
0.06
|
|
Nasdaq
|
9,943.05
|
32.52
|
0.33
|
|
GlobalDow
|
2,843.71
|
-3.28
|
-0.12
|
Europe Markets
|
Europe Closed
|
Price
|
Change
|
% Change
|
|
FTSE 100
|
6,224.07
|
-29.18
|
-0.47
|
|
DAX
|
12,281.53
|
-100.61
|
-0.81
|
|
CAC 40
|
4,958.75
|
-37.22
|
-0.75
|
|
FTSE MIB
|
19,485.76
|
-100.13
|
-0.51
|
|
IBEX 35
|
7,390.20
|
-88.50
|
-1.18
|
|
Stoxx 600
|
363.41
|
-2.61
|
-0.71
|
Commodity
|
Commodity
|
Price
|
Change
|
% Change
|
|
Gold
|
1,734.10
|
2.90
|
0.17
|
|
Oil
|
39.04
|
0.19
|
0.49
|