India : Market may open on flat to negative note
Tue May 02 2017
Rajesh Sharma (2002 articles)

India : Market may open on flat to negative note

MUMBAI :

Indian benchmark indices got off to weak start on Friday and thereafter indices continued to trade below neutral line for the entire part of trading session, however, some buying was witnessed in the dying hours of the day which helped indices to close off day’s low. NSE’s 50-share broadly followed index – Nifty slumped  by over quarter per cent to settle just above the crucial 9,300 support level, while Bombay Stock Exchange’s Sensitive Index – Sensex took over hundred points cut and closed above the psychological 29,900 markThe European markets underwent a choppy day of trade on Friday, fluctuating between small gains and losses throughout the session. The markets ended with marginal losses on Thursday. Investors seemed hesitant to make any major moves ahead of Monday’s holiday. The DAX of Germany dropped 0.05 per cent and the CAC 40 of France fell 0.08 per cent. The FTSE 100 of the U.K. declined 0.46 per cent.The Nasdaq Composite closed at a record high on Monday with stock of Apple hittng a new high, while the Dow Jones Industrial Average which dipped in and out of negative territory, to finish with marginal losses of 27 points at 20,913. The S&P 500 index closed up 4 points at 2,388. U.S consumer spending was unchanged in March for a second straight month and the overall monthly inflation fell for the first time in a year.Most of the Asian markets are trading in positive territory on Tuesday. Japan’s Nikkei 225 trading higher by 115 points.China’s Shanghai Composite slipped 4 points and Hong Kong’s Hang Seng surged 111 points.At 8:08 am, SGX Nifty Index was trading with modest losses of 6 points at 9351.50, indicating flat to negative start for the Indian Stock 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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