Market Likely To Open Flat
Indian equities market on Friday continued its rally for the third straight day after the government announced plans to infuse fresh capital into state-run lenders by September. Moreover, reports that retirement fund body (EPFO) will start investing in equity markets next week, helped too. The Sensex garnered 409.21 points or 1.48% to settle at 28,114.56, while the Nifty rose 111.05 points or 1.32% to end at 8,532.85. On a weekly basis, both, BSE Sensex and NSE Nifty ended largely flat. Broader markets continued to outperform the benchmarks for the fourth straight week as the BSE Mid- and Small-cap indices gained 1.1-1.4%.
US Stock Markets closed modestly lower Friday as oil titans Exxon Mobil and Chevron led a slump in energy stocks. The S&P 500 closed 4.71 points, or 0.2%, lower at 2,103.90 and weekly gain 1.2%, while it booked a 2% gain over the month. The Dow Jones Industrial Average slipped 55.32 points, or 0.3%, to 17,690.66, but ended the week with a gain of 0.7% and booked a 0.4% gain over the month. The Nasdaq Composite ended the session less than a point lower at 5,218.28. The tech-heavy index rose 0.8% over the week and 2.9% over the month.
On Friday, WTI crude fell USD 1.40 to close at USD 47.12 a barrel in New York. Brent crude fell USD 1.10 to close at USD 52.21 in London. Crude oil futures fell sharply on Friday to cap the worst monthly performance since the 2008 global financial crisis as ongoing concerns over a glut in world markets continued to drive down prices. For the week, Brent futures lost USD 2.24, or 4.41%, the fifth straight weekly decline. Prices tumbled USD 11.39, or 18.6%, in July, amid concerns a resumption of Iranian oil exports will add to a global glut. WTI oil futures declined 88 cents, or 2.12%, the seventh consecutive weekly loss. WTI oil prices plunged USD 12.22, or 21.24%, in July, the biggest monthly loss since October 2008, as worries over high domestic U.S. oil production weighed.
Europe's main stock markets have ended the week higher, as investors digested economic data from around the world alongside more earnings updates. The Stoxx Europe 600 SXXP finished up less than 1 point at 396.37 and a weekly gain of 0.4%. Germany’s DAX 30 DAX rose 0.5% to 11,308.99, and France’s CAC 40 rose 0.7% to 5,082.261. The U.K.’s FTSE 100 rose 0.4% to 6,696.28. For the month, the DAX rose 3.3% and the CAC picked up 6.1%. The FTSE tacked on 2.7%. Greek stock exchange reopens on Monday after five weeks shutdown over the country's debt crisis, with traders bracing for a volatile session.
Asian stocks stumbled early Monday, as data showed a Chinese factory gauge slipped to a five-month low and energy shares retreated amid a drop in oil. China's Shanghai Composite index plummeted 1.45%. The final reading for Caixin China purchasing managers' index (PMI) for July came in at 47.8, lower than the preliminary reading of 48.2 and marking a two-year low. Japan’s NIKKEI 225 index fell 0.64% while Australia’s S&P/ASX 200 Index fell 0.30%. South Korea’s Kospi index slide 0.80%. New Zealand’s NZX 50 Index gains 0.50%.
A SGX CNX Nifty Index future traded at flat. Indian markets likely to open flat. RBI third bi-monthly monetary policy review is scheduled on Tuesday, 4 August 2015. 3M India, Aban Offshore, Adlabs Entertainment, Atul Auto, Berger Paints, BGR Energy, Bharat Forge, Carborundum Universal, Forbes & Co, FSL, HCL Technologies, Hero Motocorp, Indiabulls Real Estate, India Nippon Electricals, JK Paper, Mold-Tek Technologies, Monsanto India, Nesco, Nesco, Nitco, Premier, TNPL, Styrolution ABS and V-Guard would be reporting first quarter earnings today.