D-Street is anticipating recovery
Yesterday’s session proved to be Black Monday for the Indian markets as both Sensex and Nifty glided below their important psychological level of 37,000 and 11,000, respectively. However, the bulls on D-Street would attempt for revival on Tuesday, aided by the joyful mood amongst the global peers. At 7:45 AM, SGX Nifty trades with a gain of 42 points at 10,953.50 levels.
Going forward, Nifty’s crucial support is placed around its 200-DMA and it would be interesting to see whether or not Nifty holds on to its morning move and cross the 11,000 level on the upside.
Today on earnings front, stocks such as Tata Consumer, Neulandlad, SPARC, Dixon Technologies and VBL are slated to report their quarterly earnings.
Post a solid close on Wall Street overnight, majority of the Asian indices are trading higher on Tuesday morning. At the time of writing, Japan’s Nikkei 225 surged over one per cent, trading nearly at 22,500 level, while Hong Kong’s Hang Seng advanced 0.68 per cent. On the other hand, China’s Shanghai Composite is trading near the neutral line.
Asian Markets
|
Asia Opening
|
Price
|
Change
|
% Change
|
|
Nikkei 225
|
22,497.70
|
302.59
|
1.36
|
|
Hang Seng
|
24,623.88
|
165.75
|
0.68
|
|
Shanghai
|
3,366.19
|
-1.78
|
-0.05
|
|
SGX Nifty
|
10,953.50
|
42.00
|
0.38
|
On Monday, key domestic benchmark indices extended its southward journey for the fourth straight day. This was led by the fall in Reliance Industries and financial stocks. Sensex plummeted 1.77 per cent to close below 37,000 level and Nifty descended 1.64 per cent to close below 10,900 level. Meanwhile, the broader indices ended in green with Nifty Mid-cap and Nifty Small-cap ascending 0.03 per cent and 1.10 per cent, respectively. Therefore, the overall market breadth remained positive with 977 stocks advanced and 876 stocks declined. On sectoral front, Nifty Private Bank skidded the most followed by Nifty Bank. On the flipside, Nifty PSU Bank and Nifty Metal were the top gainers.
As the economic activity in the US manufacturing sector expanded in July at the fastest pace, the US stocks kicked off the August month on a joyful note. Moreover, the rise was larger than expected. All three major US indices closed in green. However, the tech-heavy Nasdaq outperformed its counterparts. Nasdaq gushed to make a new record closing high. Further, European indices ended the first trading session of the week on a buoyant note amid promising economic data.
US Markets
|
US Closed
|
Price
|
Change
|
% Change
|
|
Dow
|
26,664.40
|
236.08
|
0.89
|
|
S&P 500
|
3,294.61
|
23.49
|
0.72
|
|
Nasdaq
|
10,902.80
|
157.52
|
1.47
|
|
GlobalDow
|
2,955.02
|
9.93
|
0.34
|
Europe Markets
|
Europe Closed
|
Price
|
Change
|
% Change
|
|
FTSE 100
|
6,032.85
|
135.09
|
2.29
|
|
DAX
|
12,646.98
|
333.62
|
2.71
|
|
CAC 40
|
4,875.93
|
92.24
|
1.93
|
|
FTSE MIB
|
19,379.79
|
287.86
|
1.51
|
|
IBEX 35
|
6,975.00
|
97.60
|
1.42
|
|
Stoxx 600
|
363.64
|
7.31
|
2.05
|
Commodity
|
Commodity
|
Price
|
Change
|
% Change
|
|
Gold
|
1,994.00
|
7.70
|
0.39
|
|
Oil
|
40.81
|
-0.20
|
-0.49
|