India : Markets to open muted owing to disappointing IIP
Mon Dec 12 2016
Rajesh Sharma (2003 articles)

India : Markets to open muted owing to disappointing IIP


Indian markets on Friday started the session on a cheerful note, tracking overnight gains in the US markets. Thereafter, the market traded in a tight range, above the neutral line for most part of the session, as market participants largely stayed on the side-lines in the absence of any fresh triggers. Finally, the NSE’s 50-share broadly followed index, Nifty, ended higher by 0.18 per cent to settle above the crucial 8,250 support level, while Bombay Stock Exchange’s sensitive Index-Sensex surged 52 points and closed near the psychological 26,750 mark.European markets finished higher on Friday with shares in France leading the in the region. The CAC 40 was up 0.60 per cent while London’s FTSE 100 was up 0.33 per cent and Germany’s DAX was up 0.22 per cent.The U.S. stock market moved notably higher on Friday, with increased buying in the final hour of the session. At the close of trading, the Dow Jones Industrial Average was ahead 142 points; the S&P 500 Index was up 13 points; and the NASDAQ was higher by 27 points.Asian stocks are trading in the mix on Monday with Nikkei 225 surging 1.26 per cent, as the yen weakened against the dollar. Hang Seng is trading lower by 0.19 per cent and Shanghai Composite is trading lower by 0.40 per cent.At 7:47 am, SGX Nifty Index was trading 0.14 per cent lower at 8,265, indicating a flat to negative start for Indian equities. Market participants will react to disappointing economic numbers as the Index of Industrial Production (IIP) fell 1.9 per cent in October compared with a 0.7 per cent rise in September as per the data released by the Central Statistics Office on Friday. The retail inflation (CPI) is scheduled to be released later this evening.

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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