India : Markets may open flat, further driven by sentiments on RIL’s results
Tue Jan 17 2017
Rajesh Sharma (2002 articles)

India : Markets may open flat, further driven by sentiments on RIL’s results

MUMBAI :

Indian market ended marginally higher on Monday, supported by gains in Metals, Realty and Banking stocks. But the market was dragged by Information Technology, Oil & Gas and FMCG stocks. Eventually, the NSE’s 50-share broadly followed index, Nifty, surged by 0.15 per cent to settle above the crucial 8,400 support level; while Bombay Stock Exchange’s Sensitive Index-Sensex accumulated over fifty points and closed above the psychological 27,250 mark.European stocks ended lower on Monday as investors awaited more detail on UK’s Brexit plan. The CAC ended the session with losses of 0.82 per cent at 4882.18; the DAX shed 74.47 points to end at 11554.71, while UK’s FTSE ended the session lower by 0.15 per cent at 7327.13.The U.S. markets remained closed on Monday for the Martin Luther King Jr. holiday.  Most of the Asian markets are trading in negative terrain; however, Hong Kong’s Hang Seng is bucking the negative trend as its trading higher by 55 points, while Nikkei 225 and Shanghai Composite are down by 0.52 and 0.40 per cent respectively.At 7:58 am, SGX Nifty index has gained 0.08 per cent to 8,440, indicating a flat start for Indian equities. Investors will react to Reliance Industries results and the progress made by Goods and Services Tax Council on the argumentative dual control issue.

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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