A joyful beginning for the month of June!
Today the Indian markets would be greeted as a host of news were out on Friday. The key economic data was released when market had shut its doors for a weekend holiday. India’s Q4 GDP growth was a depressing at 3.1 per cent despite only a couple of weeks of lockdown in March 2020 and as a result the FY 2019-20 GDP was hauled to lowest since the financial crisis at 4.2 per cent. India’s fiscal deficit for FY 2019-20 widened to 4.59 per cent of GDP, exceeding governments upwardly revised target of 3.8 per cent. On Saturday, the Ministry of Home Affairs made announcement regarding re-opening of all activities outside containment zones, but restriction would persist in containment zone up to June 30. However, market participants would take solace from this announcement. The Unlock 1.0 also includes guidelines for opening up of hotels, restaurants and shopping malls.
SGX Nifty is indicating a gap-up start at 9,653.50 levels on supportive global cues.
On Monday, It’s a sea of green for the Asian markets. US President Donald Trump in his press conference on Friday stopped tough sanctions over China’s new national security law for Hong Kong. This led Hong Kong’s Hang Seng hop nearly 3 per cent. Japan’s Nikkei 225 and China’s Shanghai Composite were trading higher with over a per cent gains.
Asian Markets
|
Asia Opening
|
Price
|
Change
|
% Change
|
|
Nikkei 225
|
22,141.24
|
263.35
|
1.20
|
|
Hang Seng
|
23,670.62
|
709.15
|
3.09
|
|
Shanghai
|
2,887.00
|
35.08
|
1.23
|
|
SGX Nifty
|
9,653.50
|
139.50
|
1.47
|
In the final trading session of the week, bulls hit a hat-trick on D-Street as Nifty and Sensex registered gains of 0.95 per cent and 0.69 per cent respectively. The broader indices too witnessed decent traction and surged by nearly a per cent. Talking about the sectoral performance, except for Nifty IT and Nifty Media, all other indices ended in green. Nifty Realty, Nifty Pharma and Nifty FMCG were registered as top gainers. The advance-decline ratio was inclined towards advancers. Out of 1,899 stocks traded, 1,158 advanced, 629 declined and 112 remained unchanged.
In the final leg of trade on Friday, US shares claw back losses post President Donald Trump’s highly anticipated press conference seemed to be less awful than what market participants may have expected preceding the event. In his speech, President Donald Trump announced White House would end Hong Kong’s special trade status. He further alleged that the World Health Organization (WHO) misled the world when the virus was first discovered by Chinese authorities. This resulted in termination of relationship with WHO and redirecting funds to other worldwide and deserving, urgent, global public health needs. In the end, Dow closed flat, while S&P 500 registered its best closing since early March and the tech-heavy Nasdaq climbed to a fresh three-month closing high. Meanwhile, the European indices pierced lower ahead of the much-awaited President Donald Trump’s press conference as traders fear that US-China tensions would escalate post the press conference.
US Markets
|
US Closed
|
Price
|
Change
|
% Change
|
|
Dow
|
25,383.11
|
-17.53
|
-0.07
|
|
S&P 500
|
3,044.31
|
14.58
|
0.48
|
|
Nasdaq
|
9,489.87
|
120.88
|
1.29
|
|
GlobalDow
|
2,345.98
|
78.11
|
3.44
|
Europe Markets
|
Europe Closed
|
Price
|
Change
|
% Change
|
|
FTSE 100
|
6,076.60
|
-142.19
|
-2.29
|
|
DAX
|
11,586.85
|
-194.28
|
-1.65
|
|
CAC 40
|
4,695.44
|
-75.95
|
-1.59
|
|
FTSE MIB
|
18,197.56
|
-153.60
|
-0.84
|
|
IBEX 35
|
7,096.50
|
-127.60
|
-1.77
|
|
Stoxx 600
|
350.36
|
-5.11
|
-1.44
|
Commodity
|
Commodity
|
Price
|
Change
|
% Change
|
|
Gold
|
1,750.40
|
-1.30
|
-0.06
|
|
Oil
|
35.29
|
-0.20
|
-0.56
|