India : Markets may open flat to negative as world markets are in a state of inertia
Fri Jan 20 2017
Rajesh Sharma (2003 articles)

India : Markets may open flat to negative as world markets are in a state of inertia


Indian benchmark indices on Thursday witnessed yet another day of consolidation as key indices moved in a narrow range throughout the trading session. On the BSE sectoral space, the Oil & Gas counter remained the top gainer in the space with over two per cent gains, followed by PSU index which ended with gains of around a per cent. Decent buying was also witnessed in Consumer Durables, Power and Auto counters. On the flipside, Banking and Realty sectors settled with moderate cuts.  Eventually, the NSE’s 50-share broadly followed index Nifty gained around 21 points to settle at 8435; while Bombay Stock Exchange’s Sensitive Index-Sensex gained around fifty points and closed above the psychological 27,300 mark.European markets on Thursday ended in negative terrain; however, recovery was seen from the lower levels as ECB holds rates steady and its bond-buying program at its Thursday meeting. The bank’s President, Mario Draghi said the governing body stood ready to intervene further if conditions worsened. The FTSE 100 of the U.K. slipped 0.54 per cent, the CAC 40 of France fell 0.25 per cent and DAX of Germany dipped 0.02 per cent.The U.S. stocks finished lower on Thursday, with real estate falling around 1 per cent, as investors eagerly awaited President-elect Donald Trump’s christening. The Dow Jones Industrial Average dropped almost 70 points as it registered a five-day losing streak. The S&P 500 dropped around a third of a per cent. The Nasdaq Composite index fell 0.28 per cent.  Asian stocks on Friday are trading in the mix on Friday, where Nikkei 225 and Shanghai Composite are trading with minor gains, while the Hong Kong’s Hang Seng has plummeted 162 points to 22,887.At 8:00 am, SGX Nifty index has slipped 19.50 points to 8,422, indicating a cautious start for Indian equities.

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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