India : Markets may open flat in the wake of subdued global cues
Mon Apr 10 2017
Rajesh Sharma (2002 articles)

India : Markets may open flat in the wake of subdued global cues

MUMBAI :

Indian benchmark indices got off to a disappointing start after the news flashed of U.S. missile strikes against Syria, and in the late afternoon session sudden bouts of selling emerged, and market concluded the week on a frightening note.  To end, the NSE’s 50-share broadly followed index – Nifty plunged by over half a per cent to settle below the crucial 9,200 support level, while Bombay Stock Exchange’s Sensitive Index – Sensex took a triple digit cut and closed tad above the psychological 29,700 mark.Most of the European markets ended Friday’s session with modest gains. The DAX of Germany dropped 0.05 per cent, but the CAC 40 of France rose 0.27 per cent. The FTSE 100 of the U.K. gained 0.63 per cent.The U.S. stocks closed with marginal losses on Friday, on the back of weaker than expected U.S. employment report and the U.S. carrying out a military strike against Syria. The Dow Jones Industrial Average lost 7 points to end at 20,656. The S&P 500 lost 2 points to end at 2,356; and the Nasdaq Composite Index shed 1 point to finish at 5,878.Asian markets are trading mixed. Japan’s Nikkei 225 moved up 135 points. Hong Kong’s Hang Seng surged 8 points and the Shanghai Composite is trading with losses of 9 points.At 8:01 am, SGX Nifty Index was trading flat at 9219, indicating a subdued 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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