Positive Start On Cards As Global Markets Consolidate
RBI’s hawkish policy had quite an impressive effect on the sentiments of Indian bourses as Major indices were in a marry mood for the second day successively. Importantly this spurt in the Indian market came despite a total gloom across the globe over slowdown concern in major economies of the world, especially China. RBI in its crucial bimonthly review of monetary policy had slashed Repo rate by 50 basis points, which was well taken by the banks as well as all of them has now started to pass on the benefits to customers. Considering all this Indian bourses showed a robust run up as Benchmark BSE Sensex appreciated by handsome 1.46% to close at 26154 points, while broad based NSE Nifty jumped by 1.35% to close at 7948 points on Wednesday.
In fact major indices of Europe also make a positive rebound on the heels of wide spread positivity in the Asian markets. European markets positive reaction came after one of the worst run up in last four years. Now markets are looking at the numbers related to China that are slated to come on Thursday. European markets were also in a kind of feast on Wednesday as all major indices showed appreciation with CAC 40 leading the rally with 2.57% followed by FTSE, DAX and Euronext 100 which jumped by 2.58%, 2.22% and 2.40% respectively.
US markets was also inspired by the all around positivity as some sort of consolidation is happening in major indices across the globe. In fact this appreciation was equally powerful as was the decline during last few trading session. Crucial Dow Jones industrial average jacked up by 1.47% to 16001 points on Wednesday, while, S&P 100 and Nasdaq appreciated by 1.91% and 2.28% respectively.
Asian indices felt the ripple effect of global feast on Thursday as all the major indices opened in green, depicting quite a rally. In the morning trade Japans Nikkei 225 was trading at 0.88% high due to the positive sentiments flowing from the west. SSE composite and STI too trading quite high with jump of 10.48% and 0.36% respectively. Hong Kong’s Hang Seng was also trading in green with 1.41 % jump.Riding high on expectation from the government for some big bang reforms now, benchmark index SGX Nifty depicting Indian market was also trading high with a spurt of 0.71% in the morning trade. Having said that now all eyes are now on PM Narendra Modi as to what kind of action he takes on the front of reform. As positivity galore on the global platform as well Indian markets are expected to trade in positive territory in the morning trade.