All eyes on Niftys 10,300 level

Welcome to the first trading session of the week! SGX Nifty’s early trends suggest an ecstatic start for the markets. As a result, the Indian markets are set to be greeted with sanguinity. The optimism is on account of massive surprise on Wall Street as US labor market defied the estimates for a Depression-kind of jump in unemployment. This indicated that amid lifting of restrictions, the economy is reviving quicker from the Covid-19 pandemic caused recession than foreseen.  Further, on domestic front it’s time to unlock as shopping malls, restaurants and hotels are set to reopen which would aid in boosting sentiments on D-Street.

At 7:51 AM, the SGX Nifty is trading higher by 85 points at 10,249.

Today on the earning front, companies including key stocks such as PVR and Titan are slated to announce their earnings for quarter ended March 2020.

Wall Street witnessed solid gains leading Asian stocks inch higher on Monday. Nikkei 225 surged for the sixth straight session trading above 23,000 mark. Hong Kong’s Hang Seng gains for the fifth straight session and is hovering around 25,000 mark and China’s Shanghai Composite has jumped nearly half a per cent.

Asian Markets

After taking a pause for a day, bulls were back in action on D-Street as on Friday, key benchmark indices registered nearly one percent gains. Nifty 50 settled at 10,142, up 1.13 per cent, while Sensex advanced 307 points to end at 34,287. In the last week, Nifty and Sensex gained 5.86 per cent and 5.75 per cent respectively. Hence, on weekly basis, market continued to rally for the second consecutive week.  On sectoral front, Nifty PSU Bank hopped 6.85 per cent followed by Nifty Media which advanced by 5.26 per cent. Whereas, Nifty FMCG was the only sector that ended in red by registering miniscule losses at 0.27 per cent. The market breadth was stalwartly tilted on the advancing side. India VIX declined 3.94 per cent to end below level of 30.

On Friday, in the wake of a surprisingly good jobs report, bulls were on fire on the Wall Street. The tech-heavy Nasdaq recorded a fresh all-time high but failed to hit a record close. Meanwhile, Dow ended above 27,100 mark registering its fifth positive session in a row. S&P 500 hopped 82 points to close within striking distance from 3,200 level. European indices too concluded the week on buoyant note.

US Markets

Europe Markets

Commodity