All is well that ends well!

In the previous trading session, Nifty and Sensex ascended to the highest level in four months, where Nifty contentedly settled above its psychological level of 10,500. Auto stocks contributed largely to the rally as the monthly figures showed some optimistic trend, especially in two-wheelers and tractors segment.   In today’s session, as incoming data from the US is indicating a rosy picture, bulls are likely to extend their rally. However, in the second half of the day, market participants can expect some caution in the markets as traders may prefer to go light to end the week by taking some profits off the table.  

Early trends in SGX Nifty suggests markets to continue yesterday’s buoyancy. At 7:50 AM, SGX Nifty traded up by 41 points at 10,589 level.  

As June labor report paints a hopeful picture of a V shaped recovery, Wall Street closed positive overnight. Following the league, Asian indices are seen advancing on the final trading session of the week. China’s Shanghai Composite Index is leading as it has soared close to 1.50 per cent followed by Hong Kong’s Hang Seng and Japan’s Nikkei 225 that hopped by 0.58 per cent and 0.4 per cent, respectively.

Asian Markets

As hopeful results of vaccine trials kept market participants spirit high, domestic indices ended in green for the second straight day on Thursday. At closing bell, Nifty ascended 1.17 per cent to close above 10,550 level and Sensex jumped 1.21 per cent to settle at 35,844. In the broader market, Nifty Mid-cap and Nifty Small-cap climbed 1.13 per cent and 0.89 per cent, respectively. India VIX, a barometer of the market’s expectation of volatility over the near term, declined 5.74 per cent to 26.51. On the sectoral front, majority of the sectoral indices ended in green with Nifty Auto and Nifty IT registering themselves as top gainers. On the other hand, Nifty Bank, Nifty PSU Bank and Nifty Realty ended in red. 

On Thursday, amid better than expected employment data, stocks on Wall Street extended its up move. However, surging COVID-19 cases tempered enthusiasm and as a result it trimmed some of its gains in the end. At closing bell, the tech-heavy Nasdaq Composite Index escalated to the new all-time high.  Said that, the real action was witnessed in the European indices. They soared as Eurozone unemployment rate rises less than expected in May and anticipations of potential coronavirus vaccine.

US Markets

Europe Markets

Commodity