Nifty Index witnessed wild swing on Friday session with index dropping to an intraday low of 11832 after posting a high of 12038 just three points away from the 52 weeks high posted on Lok Sabha election result day.
In Sectoral indices, IT closed positive 1% while other sectors such as Auto, Banks, Realty, Pharma and Metals dropped. Bank Nifty slide 0.51%.
In Small and Midcap Space, NSE Midcap index fell 0.21% while NSE Small cap index fell 1.18%.
In the global, the US and the UK market gets fell overnight with President Trump’s announcement of imposing tariffs on Mexico.
- US Dow Jones Industrial Average falls sharp more than 350 points or 1.41% on Friday following Trump’s decision to impose tariffs on Mexico.
- The Nasdaq composite also dropped 1.5%.
- The UK blue-chip index FTSE also ended down 56.45 points or 0.78%
- US Treasury yield curve inversion deepens raising concerns
In Asian markets,
Indian and Global market at a glance
US- China working on a “Phase 1” trade deal
Positive news from the Brexit front boost the Global and…
- Japanese Nikkei opened 300 points lower and is down more than a percent
- SGX Nifty opens positive and currently trading 48 points up or 0.40% up which can indicate a positive start when Indian market opens.
- Hong Kong’s Hang Seng is also giving a positive start with 28 points up or gaining 0.11%
Events to watch out globally this week
- Nikkei manufacturing data, USD Markit Manufacturing PMI, US ISM manufacturing Data shall be released on Monday.
- The Reserve Bank of Australia (RBA) shall make decisions on the interest rate followed by speech by the RBA Governor and also US Fed’s Chair Powell will give a speech on Tuesday.
- Nikkei Services PMI data shall be released along with US ISM Non Manufacturing Data on Wednesday.
- US Non Farm Payroll Data shall also be released on Friday.
In India, all eyes will be on the RBI Monetary Policy Committee meet on June 6, hoping of another rate cut with the slowing of the GDP Growth, falling yields and rising bond prices. Traders will also keep an eye on the new reforms from the newly formed Modi Government. Market is hoped to rally again the Government comes with strong reforms.
In Commodities market, Crude oil prices have fallen since President Trump’s imposing tariff on Mexico. WTI Sweet Crude had fallen more than a percent today to quote around $52.70/bbl while Brent Crude has fallen from $64/bbl last Friday to open at $61.22/ bbl and has further declined to $60.98/bbl at the time of writing.
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