India : Markets may open fairly positive in the midst of upbeat global sentiments, dominated by strong US job data
Mon Feb 06 2017
Rajesh Sharma (2003 articles)

India : Markets may open fairly positive in the midst of upbeat global sentiments, dominated by strong US job data


Indian benchmark indices got off to a subdued start on Friday, tracking the dismal leads prevailing in the Asian markets on growing concerns about U.S. President, Donald Trump’s aggressive policies. Thereafter, indices kept losing the steam and touched intraday low level in the noon trades. However, indices witnessed buying at lower levels and bounced into the positive terrain by the end of the trade. Eventually, the NSE’s 50-share broadly followed index Nifty, added single digit gains to settle above the crucial 8,700 support level, while Bombay Stock Exchange’s Sensitive index or Sensex gained around thirteen points and ended above the psychological 28,200 mark.The European markets traded in green for the majority of Friday’s session and witnessed a choppy day of trading with modest gains. The DAX of Germany climbed 0.20 per cent and the CAC 40 of France rose 0.65 per cent. The FTSE 100 of the U.K. gained 0.67 per cent.The U.S. stocks closed higher on Friday, with the Dow Jones regaining a position above the 20,000 level, with a broad rally that lifted major indexes into positive territory. The upward move followed a stronger-than-expected jobs report and news that President, Donald Trump had taken steps to roll back financial industry regulations.  Asian stocks are trading higher on Monday, wherein Japan’s Nikkei 225 is trading up by 0.29 per cent at 18,974; whereas, Hong Kong’s index, Hang Seng is trading with gains of 0.82 per cent and Shanghai Composite is trading flat at 3,142.At 8:07 am, SGX Nifty index has climbed 40 points to 8,800, indicating a bullish 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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