Market Likely To Open In Green
Indian equities indices close with handsome gains and have net bought in cash market worth nearly Rs 1140 crore in the past three days markets finally appear to be consolidating. While forecast of a timely monsoon continued to raise hopes the central bank would lower interest rates on June 2. The Sensex ended up 191.68 points or 0.7% at 27837.21 and the Nifty was up 57.60 points or 0.7% at 8423.25. The broader markets underperformed the benchmark indices. The BSE mid-cap index closed 0.1% lower while the small-cap index advanced 0.1%.
U.S. stocks ended Wednesday’s choppy session slightly lower. Stocks ended mixed after a short-lived bump Wednesday from release of the minutes from the last Federal Reserve meeting that showed a June rate hike was unlikely. The Dow Jones industrial average ended down 0.2% to 18,285.40, below its record close of 18,312.39 set the day before. The S&P 500 index lost 0.1% while the Nasdaq composite index ended fractionally higher.
Crude oil settled higher after a fall in crude supplies and as tensions in the Middle East intensified. WTI crude settled up 99 cents, or 1.7%, at USD 58.98 a barrel. Brent oil settled up USD 1.01, or 1.6%, at USD 65.03.
Europe's main stock markets closed mostly up Wednesday, as investors became cautious ahead of the release of minutes from the Federal Reserve's last policy meeting. London's benchmark FTSE 100 index ended the day up 0.17% at 7,007.260 points compared to Tuesday's close. The CAC 40 in Paris rose 0.31% to 5,133.30 points, while the DAX 30 in Frankfurt ended 0.04% down, at 11,848.47 points.
Japan equities market clinching a new 15-year peak as risk appetite remained buoyant due to optimism over domestic growth. China HSBC factory PMI came in at 49.1, weaker than street estimates at 49.3 points but better than the 48.9 final showing in March, indicating that the country's manufacturing sector contracted for a third straight month in May. Japan’s Topix index added 0.6%. South Korea’s Kospi index fall 0.67%. Australia’s S&P/ASX 200 Index gained 0.85%, while New Zealand’s NZX 50 Index up 0.1%. The Shanghai Composite Index rose 0.92%.
SGX Nifty is trading up by 16 points. Indian market is likely to open in green. Ahluwalia Contracts, Allcargo Logistics, Asahi India Glass, Bajaj Auto, Bajaj Holdings, Britannia, CESC, Deepak Fertilisers, Essar Shipping, Gandhi Special Tubes, Gujarat Narmada Valley Fertilizers, HI-Tech Gears, Indiabulls Real Estate, ICRA, MMTC, RCF, Shakti Pumps, Voltas, TTK Healthcare, Zee Entertainment and Wonderla Holidays would be reporting fourth quarter earnings today.