Brace up for eventful Friday
Be prepared for an eventful Friday with SGX Nifty indicating a gap-up start for the Indian markets with full of surprises for the participants. Chinese commerce ministry indicating that China and US are likely to hold trade talks in coming days have resulted in overnight change of sentiments all across the globe.
Dough Kass often refers to a classic case whereby the market has no memory from day to day; every day is a new beginning. Going by it, a big gap up is likely to force bears to deal with stops on their short positions. At 7:55 am, SGX Nifty was up by 77.5 points or 0.69 per cent trading at 11,376.50 levels.
On the backdrop of expected China-US trade talks, Asian indices were buzzing with full zeal on Friday giving bulls a happy feel. China's Shanghai Composite is leading the gainers pack as it has advanced 0.68 per cent followed by Hong Kong's Hang Seng and Japan's Nikkei 225.
Asian Markets
|
Asia Opening
|
Price
|
Change
|
% Change
|
|
Nikkei 225
|
22,970.33
|
89.71
|
0.39
|
|
Shanghai
|
3,386.87
|
22.97
|
0.68
|
|
Hang Seng
|
24,929.33
|
137.94
|
0.56
|
|
SGX Nifty
|
11,376.50
|
77.50
|
0.69
|
For Indian markets, Thursday turned out to be a terrible day as key benchmark indices ended with a loss of nearly 1 per cent. The indices were under the bear grip amidst weak global cues right from the start. Despite this, the broader markets continued to rally as a result the market breadth remained in favour of advancers. In all 1047, stocks advanced against 840, which declined.
Majority of the sectors ended in red with Nifty Private Bank, Nifty Bank and Nifty Financial Services were top losers, on other hand, Nifty Media and Nifty Metal were top gainers on the sectoral front.
After an initial setback due to unexpected rise in the jobless claims which jumped back above 1 million marks dented the sentiments on Wall Street, however, aided by the gains in the tech-stocks it recovered to end the day in green. The tech-laden Nasdaq Composite outperformed its counterparts and marked a new record closing high. Meanwhile, the European stocks ended the day in red amid a spike in Coronavirus cases in some parts of the region, and weakening economic data harbored doubts on the swift economic recovery.
US Markets
|
US Closed
|
Price
|
Change
|
%Change
|
|
Dow
|
27,739.73
|
46.85
|
0.17
|
|
S&P 500
|
3,385.51
|
10.66
|
0.32
|
|
Nasdaq
|
11,264.95
|
118.49
|
1.06
|
|
GlobalDow
|
3033.50
|
6.84
|
0.22
|
Europe Markets
|
Europe Closed
|
Price
|
Change
|
%Change
|
|
FTSE 100
|
6,013.34
|
-98.64
|
-1.61
|
|
DAX
|
12,830
|
-147.33
|
-1.14
|
|
CAC 40
|
4,911.24
|
-65.99
|
-1.33
|
|
FTSE MIB
|
19,766.96
|
-288.44
|
-1.44
|
|
IBEX 35
|
6,993.30
|
-101
|
-1.42
|
|
Stoxx 600
|
365.64
|
-3.94
|
-1.07
|
Commodity
|
Commodity
|
Price
|
Change
|
% Change
|
|
Gold
|
1,954.90
|
8.50
|
0.44
|
|
Oil
|
42.62
|
-0.31
|
-0.72
|