Nifty closes forming a bullish candle in the daily chart at 11841 gaining more than 50 points or 0.43%. Metals stocks shines today with Jindal Steel and Vedanta ltd gaining more than 5percent, JSW Steel and Hindustan Zinc gains more than 4 percent on the index while Hindalco and Tata Steel gains between 2 to 3 percent. In the sectoral indices IT and FMCG sector closes in red while other sector gains. Metal sector led the gain over 2 percent, followed by Bank, Pharma, PSU banks and Realty sector rising over than 1 percent. The broader market indices overall closed positive with Nifty Midcap and Small Cap index gaining 0.9% and 0.7 % respectively.
Asian market trades mix on Wednesday ahead of G20 meet this week. Japan’s NIKKEI falls around 100 points today whereas Hong Kong’s Hang Seng index ended on a flat note closing 36 points above than the previous close. South Korea’s Kospi also ended flat with 0.01% change. Trade policy remains the biggest source of uncertainty looming over the market. Investors are worried about the trade dispute between the U.S. and China and its potential impact on global economic growth and corporate profits.
US market falls for the fourth consecutive day with US Dow Jones Industrial Average closing flat overnight at 26536 which is 11 points down the previous close. President Donald Trump on Wednesday said that a trade deal with Chinese President was possible this weekend but warned that he was prepared to impose tariffs on virtually all remaining Chinese imports if talks fail and also raised the possibility of lower rate on Chinese imports. US Dow futures have raised above 50 points today.
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…
Asian market opens positive today morning with NIKKEI Index climbing over 200 points or 0.99% at 21292 currently. Hong Kong’s Hangseng also advanced over 300 point or 1.13%. Domestic market opens positive at 11864 levels, above the 11850 for today. Sectoral indices are currently looking positive except for Pharma and IT Sector. Realty sector leads the indices for now. The broader market index also looks positive with Midcap and small cap gaining marginally 0.24% and 0.64% respectively. US president Donald Trump tweets Modi that India’s retaliative move on tariff on US is unacceptable and he will discuss about it in the G20 meet this week.
Oil prices rose more than 2 per cent on Wednesday and hit their highest in about a month, buoyed by US government data showing a larger-than-expected drawdown in crude stocks as exports hit a record high and surprise drops in refined product stockpiles. WTI Crude oil reached $59/bbl today while Brent Crude oil futures currently is currently quoting at $65.39/bbl.
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