SGX indicates a gap-up opening for Indian Markets
Indian frontline equity indices ended the last week with a considerable gain. It helped equity bellwether index like Sensex and Nifty to close above their important psychological level of 36,000 and 10,600. This gain was achieved on the back of the positive global cues. Early trade on SGX Nifty shows that the domestic markets are likely to open with an upbeat mood even on the first trading week of this week. The key benchmark indices will see extending their up move for the fourth straight day on Monday. At 7:50 am, the SGX Nifty is up by 85.50 points and trading at 10,673.50.
The rising cases of COVID-19 are in no way denting the sentiments of investors across the globe and markets are in a merry mood. India is now the third-worst nation in the world hit by a coronavirus. It looks like that market participants are following the classic stock market adage, ‘the trend is your friend.’
Asian markets are looking strong. In their early trade, they are trading with a good gain, despite the reports of a spike in the coronavirus cases in many countries. China’s Shanghai Composite hits a new 52-week high as it jumped nearly three per cent on Monday and it is likely to close in positive territory for the fifth straight day. Hong Kong’s Hang Seng has gained over two per cent and Japan’s Nikkei 225 has rallied nearly 1.50 per cent.
Asian Markets
|
Asia Opening
|
Price
|
Change
|
% Change
|
|
Nikkei 225
|
22,639.78
|
333.30
|
1.49
|
|
Hang Seng
|
25,891.77
|
518.65
|
2.04
|
|
Shanghai
|
3,246.06
|
03.25
|
2.96
|
|
SGX Nifty
|
10,673.50
|
85.50
|
0.81
|
On Friday, Indian benchmark indices extended its winning streak for the third straight day. The Nifty gained 0.53 per cent to close above 10,600 marks and Sensex jumped 0.50 per cent to settle above an important psychological mark of 36,000. In the broader market, Nifty Midcap and Small-cap rose 0.66 and 0.22 per cent, respectively. A mixed trend was seen on sector front wherein Nifty IT, Nifty Realty and Nifty Auto were top gainers; while on the other hand, Nifty PSU Bank and Nifty Bank were top losers. The advance-decline ratio was skewed towards the decliners as 992 stocks declined in comparison 878 advances.
On the eve of Independence Day, Wall Street was closed for trading on Friday i.e. July 3. Meanwhile, European indices after opening the session on a positive note, took a deep plunge as US recorded a new record of daily new cases as a result market participants ignored favourable economic news as Eurozone PMI reaches four-month high in June.
US Markets
|
US Closed
|
Price
|
Change
|
%Change
|
|
Dow
|
NA
|
NA
|
NA
|
|
S&P 500
|
NA
|
NA
|
NA
|
|
Nasdaq
|
NA
|
NA
|
NA
|
|
GlobalDow
|
2,866.74
|
8.39
|
0.29
|
Europe Markets
|
Europe Closed
|
Price
|
Change
|
%Change
|
|
FTSE 100
|
6,157.30
|
-83.06
|
-1.33
|
|
DAX
|
12,528.18
|
-80.28
|
-0.64
|
|
CAC 40
|
5,007.14
|
-42.24
|
-0.84
|
|
FTSE MIB
|
19,726.65
|
-160.23
|
-0.81
|
|
IBEX 35
|
7,403.50
|
-95.10
|
-1.27
|
|
Stoxx 600
|
365.43
|
-2.86
|
-0.78
|
Commodity
|
Commodity
|
Price
|
Change
|
% Change
|
|
Gold
|
1,781.40
|
-8.60
|
-0.48
|
|
Oil
|
40.39
|
-0.26
|
-0.62
|