India : Markets may open flat to negative amidst mixed global cues, swayed further by major domestic electoral results
Thu Feb 23 2017
Rajesh Sharma (2003 articles)

India : Markets may open flat to negative amidst mixed global cues, swayed further by major domestic electoral results


Indian benchmark indices got off to a positive start and thereafter gained further in the morning trades, but the sentiments turned pessimistic in afternoon session and indices started drifting lower, however, the buying in the last hour of trading session helped indices to finish with modest gains. Index heavyweight Reliance Industries skyrocketed over 10 per cent a day after the company’s chairman, Mukesh Ambani disclosed new tariff plans for its telecom arm, Reliance Jio.  At the end of the day, Nifty settled above 8900 mark, gaining around quarter per cent; while BSE’s Sensitive index-Sensex accumulated over hundred points.The European markets ended Wednesday’s session on a positive note. The DAX of Germany climbed 0.26 per cent and the CAC 40 of France rose 0.15 per cent. The FTSE 100 of the U.K. gained 0.38 per cent.The Dow on Wednesday eked out a slight gain to log its best record-setting streak in three decades, but the broader equity benchmarks struggled as Federal Reserve minutes implied that the central bank is comfortable with raising interest rates “fairly soon”. The Dow Jones Industrial Average added 32.60 points to close at 20,775.60. The S&P 500 index declined 2.56 points to finish at 2,362.82. The Nasdaq Composite Index shed 5.32 points to end at 5,860.63.The Asian shares are trading in negative territory, where Japan’s Index Nikkei 225 is trading with losses of 67 points. Hang Seng and Shanghai Composite shed 0.46 and 0.23 per cent respectively.At 8:12 am, SGX Nifty index was trading flat at 8,923, indicating a flat start for Indian equities. Today is February series F&O expiry, and we can expect some volatility in the markets.

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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