Markets likely to have a soft start

Karan Dsij
/ Categories: Trending, Pre Morning
Markets likely to have a soft start

After an initial setback last week, the Indian markets regained momentum as the RBI announced a bundle of liquidity measures to combat the pandemic effect. This led to the Nifty and Sensex closing above their important psychological level of 11,200 and 38,000. The real action was, however, seen in the broader indices with the Nifty Mid-Cap and Small-Cap index outperforming frontline indices hands down.  

The new week is likely to begin on a soft note as the global cues are mixed and mostly on the lower side. The Nifty enters the new week right near the critical resistance level of 11,225-11,260. At 7:40 am, the SGX Nifty was trading with minuscule gains of nine points at 11,235 levels. However, the call of the day is stock-specific action. The government's decision to reserve 101 items in the defence import for Indian manufacturers is likely to open the door for Indian defence companies, which are likely to be in focus today.

On the earnings front, stocks like Astrazen, Bank of Baroda, IPCALAB, Power Grid, and Titan are slated to announce their quarterly earnings.

Asian markets were trading soft on Monday morning. Hong Kong's Hang Seng was down by 0.71 per cent and China's Shanghai Composite was lower by 0.55 per cent. Japan's Nikkei 225 closed on the back of a public holiday.

Asian Markets

Asia Opening

Price

Change

% Change

Nikkei 225

Holiday

   

Hang Seng

24,358.26

-173.36

-0.71

Shanghai

3,335.58

-18.46

-0.55

SGX Nifty

11,235.50

9

0.08

 

Indian markets ended the final session of the week with modest gains where Nifty and Sensex registered gains of 0.12 and 0.04 per cent respectively. But for the week, Nifty and Sensex advanced 1.27 and 1.15 per cent respectively and reclaimed its important psychological level of 11,200 and 38,000. During the last week, the broader indices were completely in a different world as they outperformed the frontline gauges with Nifty Mid-Cap and Small-Cap surging 4.09 and 5.04 per cent respectively. Indian VIX, also known as the fear gauge of the market, eased below the 23-mark level.

The US stocks traded in the negative terrain for the major part of the day owing to fears of rising tension between the US and China after the US administration banned mobile apps TikTok and WeChat. The ambiguity over a new Coronavirus relief package, however, gave some relief to the Wall Street over the estimated July nonfarm payroll. At the closing bell, the Dow and S&P 500 ended with minuscule gains while tech-heavy dropped nearly a per cent. Meanwhile, European indices eked out modest gains after trading lackluster throughout the day. In economic news, Germany reported better than expected increase in its June exports and industrial production jumped to 8.9 per cent month-on-month in June.

US Markets

US Closed

Price

Change

%Change

Dow

27,433.48

46.50

0.17

S&P 500

3,351.28

2.12

0.06

Nasdaq

11,010.98

-97.09

-0.87

GlobalDow

2993.50

0.76

0.03

 

Europe Markets

Europe Closed

Price

Change

%Change

FTSE 100

6,032.18

5.24

0.09

DAX

12,674.88

83.20

0.66

CAC 40

4,889.52

4.39

0.09

FTSE MIB

19,516.43

41.28

0.21

IBEX 35

6,950.50

-7.40

-0.11

Stoxx 600

363.55

1.06

0.29

 

Commodity

Commodity

Price

Change

% Change

Gold

2039.50

11.60

0.57

Oil

41.68

0.46

1.12

Rate this article:
5.0

Leave a comment

Add comment

DSIJ MINDSHARE

Mkt Commentary28-Mar, 2024

Mindshare29-Mar, 2024

Multibaggers28-Mar, 2024

Interviews28-Mar, 2024

Multibaggers28-Mar, 2024

Knowledge

General26-Mar, 2024

MF25-Mar, 2024

General18-Mar, 2024

DALAL STREET INVESTMENT JOURNAL - DEMOCRATIZING WEALTH CREATION

Principal Officer: Mr. Shashikant Singh,
Email: principalofficer@dsij.in
Tel: (+91)-20-66663800

Compliance Officer: Mr. Rajesh Padode
Email: complianceofficer@dsij.in
Tel: (+91)-20-66663800

Grievance Officer: Mr. Rajesh Padode
Email: service@dsij.in
Tel: (+91)-20-66663800

Corresponding SEBI regional/local office address- SEBI Bhavan BKC, Plot No.C4-A, 'G' Block, Bandra-Kurla Complex, Bandra (East), Mumbai - 400051, Maharashtra.
Tel: +91-22-26449000 / 40459000 | Fax : +91-22-26449019-22 / 40459019-22 | E-mail : sebi@sebi.gov.in | Toll Free Investor Helpline: 1800 22 7575 | SEBI SCORES | SMARTODR