SGX Nifty hints at bright start for markets
Indian markets are likely to open with a positive bias on Thursday aided by strong close on Wall Street overnight. At 7:50 am, SGX Nifty was up by 6.50 points trading at 11,317.50 levels. The zone of 11,340-11,380 is a stiff resistance for the bulls and as long as the index stays below this level do not expect a runaway rise.
On the earnings front, over 150 companies, which include big names like Hero Motocorp, GAIL, BPCL, Tata Steel and Eicher Motors are scheduled to report their earnings today.
Asian markets witnessed mix trading on Thursday despite a strong close on Wall Street overnight. China's Shanghai composite was down by 0.04 per cent and Hong Kong's Hang Seng dropped 0.19 per cent. On the other hand, Japan's Nikkei 225 jumped 1.84 per cent trading above 23,200 mark.
Asian Markets
|
Asia Opening
|
Price
|
Change
|
% Change
|
|
Nikkei 225
|
23,263.52
|
419.56
|
1.84
|
|
Hang Seng
|
25,196.10
|
-47.92
|
-0.19
|
|
Shanghai
|
3,38.04
|
-1.23
|
-0.04
|
|
SGX Nifty
|
11,317.50
|
6.50
|
0.06
|
On Wednesday, Indian markets recovered from initial jolt and ended the day with modest losses. The Nifty lost 0.12 per cent to end at 11,308 and Sensex closed at 38,370 down by 0.10 per cent. The broader indices outperformed the frontline gauges with Nifty Mid-Cap and Small-Cap adding 0.07 and 0.41 per cent, respectively. Mixed trend continued on the sectoral front, with Nifty PSU Bank, Nifty Media and Nifty Auto were top gainers, while the Nifty Pharma and Nifty Metal felt the selling pressure. Volatility index, India VIX continued its southward journey for the seventh straight session as it slipped to levels of 20.85.
It turned out to be a wonderful session on Wall Street on Wednesday as tech stocks helped indices to log a significant rebound. Tech-giants such as Apple, Amazon and Microsoft registered smart gains as a result the tech-heavy Nasdaq Composite reclaimed its important psychology mark of 11,000, which also helped to outperform its counterpart. In the economic news, the consumer price inflation jumped more than expected, rising 0.6 per cent as against last month's reading 0.2 per cent, this acted as music to ears of bulls as it painted a picture that economic recovery is on track. European indices ended with a positive bias after action packed day. With a host of economic announcements made, Eurozone Industrial production rose for the second straight month in June, while on other hand, in Q2 UK GDP tapered by a record 20.4 per cent QoQ basis.
US Markets
|
US Closed
|
Price
|
Change
|
%Change
|
|
Dow
|
27,976.84
|
289.93
|
1.05
|
|
S&P 500
|
3,380.55
|
46.66
|
1.40
|
|
Nasdaq
|
11,012.24
|
229.42
|
2.13
|
|
GlobalDow
|
3075.20
|
4.02
|
0.13
|
Europe Markets
|
Europe Closed
|
Price
|
Change
|
%Change
|
|
FTSE 100
|
6,280.12
|
125.78
|
2.04
|
|
DAX
|
13,058.63
|
111.74
|
0.86
|
|
CAC 40
|
5,073.31
|
45.32
|
0.90
|
|
FTSE MIB
|
20,437.36
|
228.25
|
1.13
|
|
IBEX 35
|
7,296
|
32.50
|
0.45
|
|
Stoxx 600
|
374.88
|
4.12
|
1.11
|
Commodity
|
Commodity
|
Price
|
Change
|
% Change
|
|
Gold
|
1948.20
|
-0.60
|
-0.03
|
|
Oil
|
42.58
|
-0.09
|
-0.21
|