Muted start to Thursday in the offing
Market participants will be welcomed by global buoyancy when they resume on Dalal Street this monthly F&O expiry day. The SGX Nifty is trading flat in early hours of trade today. However, the same is not visible on the Indian shores. At 8:10 AM SGX Nifty is trading 2.00 points below its prior close. Today being the monthly expiry, the market is likely to remain volatile in today’s trade. There are positive cues from global peers and even positive news from India. Lower GST on two-wheelers along with renewed focus by RIL in its oil to chemical segment will keep market in a better mood.
On the stamp duty front, some south Indian states are likely to follow Maharashtra and announce a cut to spur demand before the festive season. With regard to earnings, a number of companies from BSE 500 have announced their first-quarter numbers. Though bad in absolute terms, most have managed to beat analysts' expectations.
Asian indices are trading in red on Thursday despite strong leads from Wall Street overnight. Hong Kong's Hang Seng is down by 0.94 per cent and China's Shanghai Composite is down by one-third percentage. Japan's Nikkei 225 has also lost 0.44 per cent in early trade.
Asian Markets
|
Asia Opening
|
Price
|
Change
|
% Change
|
|
Nikkei 225
|
23,187.48
|
-103.29
|
-0.44
|
|
Hang Seng
|
25,241.61
|
-231.69
|
-0.94
|
|
Shanghai
|
3,321.95
|
-7.79
|
-0.23
|
|
SGX Nifty
|
11,585.00
|
31.00
|
0.27
|
On Wednesday, despite a lacklustre start, Indian benchmark indices gained strength through the day. This gain was led by huge buying in Reliance Industries - India's largest company by market cap - in the last hour of trade. Key benchmark indices Nifty and Sensex managed to close above its crucial psychological levels. Nifty closed slightly below 11,550 with a gain of 77.37 points, while Sensex rose 230 points to close at 39,073.92.
The broader market remained in favour of advance and saw BSE Small-Cap gaining by 0.69 per cent while BSE Mid-Cap closed with a gain of 0.38 per cent. Banking and Auto stocks were the biggest gainers with almost five per cent in the first three trading days of the week. BSE Bankex and BSE Auto index gained 1.5 per cent in yesterday's trade. However, Realty, Power and Healthcare witnessed marginal selling pressure.
On Wall Street, stocks ended on a higher note on Wednesday. The S&P 500 and Nasdaq hit a record high once again over the rally in Salesforce.com after its better-than-expected results announcement. The Dow Jones Industrial Average also closed in green with a gain of 83.48 points.
On the economic front, better durable goods orders for July easily beat economists' forecast and resulted in positive sentiment. Major European stock indices also closed in the green on Wednesday with fresh hopes of an additional stimulus for Germany and France. The pan-European STOXX 600 index rose by 0.91 per cent on Wednesday to close at 373.12.
US Markets
|
US Closed
|
Price
|
Change
|
% Change
|
|
Dow
|
28,391.92
|
83.48
|
0.30
|
|
S&P 500
|
3,478.73
|
35.11
|
1.02
|
|
Nasdaq
|
11,665.06
|
198.59
|
1.73
|
|
GlobalDow
|
3,100.86
|
-2.31
|
-0.08
|
European Markets
|
Europe Closed
|
Price
|
Change
|
% Change
|
|
FTSE 100
|
6045.60
|
8.59
|
0.14
|
|
DAX
|
13190.15
|
128.53
|
0.98
|
|
CAC 40
|
5048.43
|
40.16
|
0.80
|
|
FTSE MIB
|
20137.29
|
107.24
|
0.74
|
|
IBEX 35
|
7123.00
|
14.60
|
0.21
|
|
Stoxx 600
|
373.12
|
3.37
|
0.91
|
Commodity
|
Commodity
|
Price
|
Change
|
% Change
|
|
Gold
|
1,951.60
|
-1.00
|
-0.04
|
|
Oil
|
43.33
|
-0.06
|
-0.14
|