Clueless markets to offer flat start
Be prepared for a likely flat start for the Indian markets, owing to mixed global cues. At 7:50 am, SGX Nifty was trading down by 8 points at 11,326.50 levels. Over the last couple of trading sessions, the market is in a state of flux and this has resulted into no clear headway. Nevertheless, the CPI data released post market yesterday, could provide some direction, expecting it to set the market in motion.
The CPI Inflation that came in at 6.93 per cent in the month of July, could put pressure on banking and interest rate sensitive stocks as higher inflation virtually rules out the highly anticipated rate cut in the next RBI policy.
Asian indices lack clear direction on Friday following a mixed close on Wall Street overnight. While the Stocks in China and Japan were making headway, Hong Kong's Hang Seng drifted lower.
Asian Markets
|
Asia Opening
|
Price
|
Change
|
% Change
|
|
Nikkei 225
|
23,268.13
|
18.52
|
0.08
|
|
Hang Seng
|
25,213.87
|
-16.80
|
-0.07
|
|
Shanghai
|
3,334.70
|
13.97
|
0.42
|
|
SGX Nifty
|
11,326.50
|
-8
|
-0.07
|
Indian markets ended Thursday's sessions with modest cut with Nifty and Sensex shedding 0.07 and 0.15 per cent, respectively. After opening on a positive note, indices gave away their early gains and thereafter, it traded within a capped band. However, the action continued in the broader indices as they continued to outperform the frontline gauges with Nifty Mid-Cap and Small-Cap surging 1.57 and 0.75 per cent, respectively. Sectoral indices exhibited a mixed wherein Nifty Media, Nifty Auto and Nifty Metal were top gainers, on flipside, Nifty PSU Bank and Nifty Pharma ended as top losers.
In overnight development, while Wall Street displayed a lacklustre performance with the Dow, the S&P closing with miniscule losses. The tech-heavy aided by gains in tech giant like Apple and Netflix ended the day in green. Weekly initial jobless claims declined drastically than forecasted in the week ended August 8. For the first time since week ended March 14, the jobless claims fell below 1 million.
However, the steep drop witnessed in the Dow component Cisco on back of weak guidance and uncertainty over next wave of fiscal support overshadowed this joy. European indices ended the day in negative terrain as early gains fizzled out and selling pressure only inflated as the day progressed.
US Markets
|
US Closed
|
Price
|
Change
|
%Change
|
|
Dow
|
27,896.72
|
-80.12
|
-0.29
|
|
S&P 500
|
3,373.43
|
-6.92
|
-0.20
|
|
Nasdaq
|
11,042.50
|
30.27
|
0.27
|
|
GlobalDow
|
3056.06
|
-2.63
|
-0.09
|
Europe Markets
|
Europe Closed
|
Price
|
Change
|
%Change
|
|
FTSE 100
|
6,185.62
|
-94.50
|
-1.50
|
|
DAX
|
12,993.71
|
-64.92
|
-0.50
|
|
CAC 40
|
5,042.38
|
-30.93
|
-0.61
|
|
FTSE MIB
|
20,257.31
|
-180.05
|
-0.88
|
|
IBEX 35
|
7,250.50
|
-45.50
|
-0.62
|
|
Stoxx 600
|
372.53
|
-2.35
|
-0.63
|
Commodity
|
Commodity
|
Price
|
Change
|
% Change
|
|
Gold
|
1963.10
|
-7.30
|
-0.37
|
|
Oil
|
42.31
|
0.07
|
0.17
|