India : Indian indices likely to beat Monday blues, jubilant Asian markets, French poll results to be the propellant
Mon May 08 2017
Rajesh Sharma (2002 articles)

India : Indian indices likely to beat Monday blues, jubilant Asian markets, French poll results to be the propellant

MUMBAI :

Indian benchmark on Friday got off to a lacklustre opening, tracking subdued sentiments prevailing in Asian markets.  Thereafter, the indices drifted lower due to lack of encouraging leads and Nifty drifted below the important psychological mark of 9300. To end with, the NSE’s 50-share broadly followed index Nifty, suffered a nasty seventy-point fall to settle below the crucial 9,300 support level, while Bombay Stock Exchange’s Sensitive Index Sensex slipped by over two hundred and fifty points and closed below the psychological 29,900 mark.The European markets after a subdued start on Friday; bounce back to end the session with solid gains. The DAX of Germany climbed 0.55 per cent and the CAC 40 of France rose 1.12 per cent. The FTSE 100 of the U.K. gained 0.68 per cent.U.S. stocks ended the last trading session of week i.e. Friday with marginal gains. Sentiments remain upbeat post a stronger than expected April employment report. The Nasdaq Composite Index saw a record finish, rising 25 points to end at 6,101. The Dow Jones Industrial Average advanced 55 points to close at 21,007. The S&P 500 index finished up 10 points at 2,399, its first record close since March 1.Most of the Asian markets edged higher on Monday after Emmanuel Macron, a youthful former investment banker, conveniently won France’s presidential election, defeating Marine Le Pen. Japan’s markets Nikkei 225 surged 350 points.  Hong Kong’s Hang Seng gained 92 points. China’s Shanghai Composite slipped 17 points.At 8:06 am, SGX Nifty Index was trading higher by 18.50 points at 9335.50, indicating positive start for Indian indices.

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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