Buoyant start likely for the markets; TCS to remain in focus!

Karan Dsij
/ Categories: Trending, Pre Morning
Buoyant start likely for the markets; TCS to remain in focus!

As bears paid a surprise visit on the D-Street in the last hour, sell-off triggered panic in the market. And finally, the unceasing gains in five back to back sessions halted. Having said that, Thursday morning looks promising for the bulls as suggested by SGX Nifty. Owing to favorable cues from Wall Street overnight and cheerful mood among the Asian peers, early trends in the SGX Nifty Indicates a positive opening for the Indian benchmark indices.  

At 7:50 AM SGX Nifty is trading 49 points higher at 10,732.

Market participants would shift their focus from global markets and coronavirus news to April-June 2020 earning seasons. IT bellwether TCS is slated to begin earnings season today.

On account of optimistic close on Wall Street overnight, Asian indices were mostly trading higher on Thursday. China’s Shanghai Composite surged 0.48 per cent and is leading from the front, followed by Hong Kong’s Hang Seng. Whereas, Japan’s Nikkei 225 plunged 0.21 per cent.

Asian Markets

Asia Opening

Price

Change

% Change

Nikkei 225

22,486.23

-47.58

-0.21

Hang Seng

26,257.93

128.75

0.47

Shanghai

3,419.77

16.32

0.48

SGX Nifty

10,732.00

49.00

0.47

 

On Wednesday, key domestic benchmark indices snapped its five day’s winning streak. Swift selling in the last leg of trade dragged indices lower. Sensex lost 0.94 per cent to close at 36,329 and Nifty plunged 0.87 per cent to settle at 10,706. In the broader market, Nifty Mid-cap and Nifty Small-cap skidded 0.39 per cent and 0.24 per cent, respectively. On the sectoral front, in otherwise a negative biased day, Nifty PSU Bank managed to gain the most to ascend by 2.34 per cent. On the flipside, Nifty Auto and Nifty Realty were the top losers. India VIX jumped 4 per cent to 26.10.

After a day of selloff on Wall Street, bulls were back in action on Wednesday. Tech-heavy Nasdaq outperformed its counterparts as it mounted to yet another record high closing that was chiefly led by rally in Apple, Amazon and Nvidia. S&P 500 and Dow surged 0.78 per cent and 0.68 per cent, respectively. Whereas, continuous rise in new coronavirus cases turned the mood bearish and as a result, European indices ended the day lower.

US Markets

US Closed

Price

Change

% Change

Dow

26,067.28

177.10

0. 68

S&P 500

3,169.94

24.62

0.78

Nasdaq

10,492.50

148.61

1.44

GlobalDow

2,890.11

2.74

0.09

 

Europe Markets

Europe Closed

Price

Change

% Change

FTSE 100

6,156.16

-33.74

-0.55

DAX

12,494.81

121.99

-0.97

CAC 40

4,981.13

-62.60

-1.24

FTSE MIB

19,899.53

-113.15

-0.57

IBEX 35

7,326.40

-121.00

-1.62

Stoxx 600

366.48

-2.48

-0.67

 

Commodity

Commodity

Price

Change

% Change

Gold

1,819.80

-0.80

-0.05

Oil

40.78

-0.12

-0.29

 

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