India : Markets to open in red; SBI’s Q2 in focus
Fri Nov 11 2016
Rajesh Sharma (2002 articles)

India : Markets to open in red; SBI’s Q2 in focus

MUMBAI :

Indian share markets witnessed a strong rally on the next day of US Presidential election results led by short covering and positive global cues which led the markets to gain in excess of one per cent in trade before cooling down a bit at the time of closing on Thursday, November 10. India Nifty closed above the levels of 8500; whereas Sensex managed to close above 27500 on Thursday, November 10.

European stocks after the initial euphoria corrected a bit from higher levels to close down by close to quarter of a percentage. English FTSE and Spanish IBEX were the biggest drags on the markets in Thursday, November 10’s trading session.

Surprising everyone the US stock market rallied for the second straight day after Donald Trump victory over Hillary Clinton. The Dow Jones industrial average closed at record high by rising as much as 218 points. Financials were trading near the 2008 levels for the first time since the financial crisis erupted in the year 2008 on Thursday, November 10.

Asian shares gained further in trade on Friday, November 11, 2016 as Nikkei hit 9-month high boosted by higher yields in the US markets.

SGX Nifty is trading with losses of 1.6 per cent to the levels of 8410. Markets are expected to open in red. SBI and Bank of Baroda’s Q2 will be in focus.

Rajesh Sharma

Rajesh Sharma

Rajesh Sharma is Correspondent for Stock Market of South East Asia based in Mumbai. He has been covering Asian markets for more than 5 years.

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