Amidst the global tensions between the US and Iran, indices have gone against all odds to market new highs in the Indian market. The Nifty index has touched a new high of 11311 levels last week. Global market has also been positive with positive cues from the Phase 1 trade deal to take place between the US and Chin on 15th of this month. Sectoral indices have all ended in green on Friday except for the Nifty Private banking sector.
US Dow futures also rose on Sunday overnight more than 0.2%. The U.S. and China have agreed to discuss on the disputes and reforms to improve the relation between the two nations on. But the talks reportedly will be separate from phase two China trade deal negotiations.
Asian stock markets are mixed on Monday following the losses on Wall Street Friday after the U.S. Labor Department’s non-farm payroll data showed slower than expected job growth in the month of December. The Japanese market is closed for a holiday. The Hangseng index is positive with a gain of more than 200 points or 0.8% currently.
The Consumer Price Index for the month of December will be released today which is an important parameter to measure inflation. The data for the November month has already hit 40 months high at around 5.5 percent. The data for this month is expected to come above 6 percent. The Wholesale Price Index (WPI) will be releasing tomorrow.
Benchmark Indices today in the Indian market is overall positive. The Nifty index has gained around 50 points or more kicked off by strong IIP data released on Friday. The industrial output grew 1.8 per cent in November, turning positive after three months of contraction, on account of growth in the manufacturing sector. The Index of Industrial Production (IIP) had grown by 0.2 per cent in November 2018.
From the sectoral indices except for Auto and Media sector are all trading in the positive territory. IT index gains the most at 1.3 percent.
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