Bulls likely to take a halt

Karan Dsij
/ Categories: Trending, Pre Morning
Bulls likely to take a halt

Bull run that continued for the last four trading session could take a break as Indian markets are likely to open on a flat to negative note. This was indicated by the early trend on the SGX Nifty.

At 7:50 AM, the SGX Nifty is down by 36 points and is trading at 10,730 levels.

Despite a strong close on Wall Street overnight, Asian indices trading mixed on Tuesday. Amid concerns over rising number of new COVID-19 cases in Tokyo and Japanese household spending dropped at a record pace in May, Japan’s Nikkei 225 is trading down by half a per cent.  China’s Shanghai Composite is surged nearly one per cent and the Hong Kong’s Hang Seng is trading with modest gains.

Asian Markets

Asia Opening

Price

Change

% Change

Nikkei 225

22,587.37

-127.07

-0.56

Hang Seng

26,367.07

27.91

0.11

Shanghai

3,364.64

31.76

0.95

SGX Nifty

10,730.00

-36.00

-0.33

 

On the back of positive global cues, domestic benchmark indices extended its gains for the fourth straight session on Monday. Further, easing geopolitical tensions between India-China acted as icing on the cake for the bulls. At the closing bell, Nifty hopped 1.47 per cent to close above 10,750 level and Sensex ascended 1.29 per cent to close at 36,487. In the broader market, Nifty Mid-cap and Nifty Small-cap advanced by 1.69 per cent and 1.82 per cent, respectively. On sectoral front, the rally was broad-based as apart from Nifty Pharma, all other sectoral indices ended in the green. Nifty Realty and Nifty Auto registered themselves as top gainers.

On Monday, the US stocks enjoyed a spectacular start of the week assisted by a better than expected surge in ISM non-manufacturing index. At closing bell, the tech-heavy Nasdaq outperformed its counterparts and chronicled another all-time high.  Dow and S&P advanced 1.78 per cent and 1.59 per cent, respectively. On account of some buoyant economic data in the euro region, European indices too ended higher on Monday.

US Markets

US Closed

Price

Change

% Change

Dow

26,287.03

459.67

1.78

S&P 500

3,179.72

49.71

1.59

Nasdaq

10,433.65

226.02

2.21

GlobalDow

2,910.56

-3.22

-0.11

 

Europe Markets

Europe Closed

Price

Change

% Change

FTSE 100

6,285.94

128.64

2.09

DAX

12,733.45

205.27

1.64

CAC 40

5,081.51

74.37

1.49

FTSE MIB

20,031.86

305.21

1.55

IBEX 35

7,556.20

152.70

2.06

Stoxx 600

371.21

5.78

1.58

 

Commodity

Commodity

Price

Change

% Change

Gold

1,794.30

0.80

0.04

Oil

40.45

-0.18

-0.47

 

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