Buoyancy to continue on D-Street
Nifty extended its up-move for the sixth straight trading session in a row. It is the longest winning streak recorded by Nifty after November 2019. Having said that, as of now bears are classified as a critically endangered species. On Thursday morning, the early trends on SGX Nifty indicates that the cheerfulness on the D-street will continue to be the order of the day supported by positive global cues.
At 07:45 AM, SGX Nifty indicates that the benchmark index might open around 10,113.50 mark, up by 0.23 per cent.
On the earning front, key stocks like SRF and DLF would remain in focus as they are slated to announce their earnings for quarter ended March 2020.
Ensuing a strong close in overnight trade on Wall Street, majority of the Asian markets were seen advancing on Thursday. Japan’s Nikkei 225 added 0.33 per cent extending its rise for the fourth straight day. Hong Kong’s Hang Seng was up by 0.32 per cent. While, the China’s Shanghai Composite was trading below the dotted lined.
Asian Markets
|
Asia Opening
|
Price
|
Change
|
% Change
|
|
Nikkei 225
|
22,688.53
|
74.77
|
0.33
|
|
Hang Seng
|
24,404.33
|
78.71
|
0.32
|
|
Shanghai
|
2,919.89
|
-3.48
|
-0.12
|
|
SGX Nifty
|
10,113.50
|
23.50
|
0.23
|
On Wednesday, domestic markets continued its northward march for the sixth consecutive session. Though in the last leg of trade, markets trimmed their gains on account of profit booking. However, Sensex and Nifty managed to close above their important psychological level of 34,000 and 10,000 respectively. Talking about broader market, Nifty Mid-cap and Small-cap hopped 0.39 per cent and 1.17 per cent respectively. Apart from Nifty IT and Nifty Metal, all other sectoral indices ended in green. Nifty PSU Bank, Nifty Realty and Nifty Bank were the top gainers. The advance-decline ratio was inclined towards advancers. Of total 1,935 stocks traded, 1,276 advanced, 581 declined and 78 remain unchanged.
Needless to say, that it was a spectacular day for the bulls on the Wall Street as all three major indices extended their rally on Wednesday. The US avowed to ban Chinese airlines from flying between the US and China. However, the bulls are brushing away any bad news coming their way. A host of optimistic data acted as the key catalyst for the rally on Wall Street. US Private sector employment report for May came in above the estimates. Further, the service sector activity in the month of May improved. At close, Dow jumped over 2 per cent reclaiming its 26,000 mark. While, S&P 500 and Nasdaq surged by 1.36 per cent and 0.78 per cent respectively. Even the European stock indices ended the day on a buoyant note amid data showing that the progress of economic reopening across the globe is aiding a recovery in activity.
US Markets
|
US Closed
|
Price
|
Change
|
% Change
|
|
Dow
|
26,269.98
|
527.24
|
2.05
|
|
S&P 500
|
3,122.87
|
42.05
|
1.36
|
|
Nasdaq
|
9,682.91
|
74.54
|
0.78
|
|
GlobalDow
|
2,875.25
|
-0.45
|
-0.02
|
Europe Markets
|
Europe Closed
|
Price
|
Change
|
% Change
|
|
FTSE 100
|
6,382.41
|
162.27
|
2.61
|
|
DAX
|
12,487.36
|
466.08
|
3.88
|
|
CAC 40
|
5,022.38
|
163.41
|
3.36
|
|
FTSE MIB
|
19,641.81
|
670.72
|
3.54
|
|
IBEX 35
|
7,626.40
|
218.30
|
2.95
|
|
Stoxx 600
|
368.92
|
9.15
|
2.54
|
Commodity
|
Commodity
|
Price
|
Change
|
% Change
|
|
Gold
|
1,704.90
|
0.10
|
0.01
|
|
Oil
|
36.74
|
-0.55
|
-1.47
|