Markets gains, US Non-Farm Payroll data to be released today

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Indian markets closed high on Thursday on the weekly expiry day after giving a gap up opening with Nifty index closing more than 190 points or gaining more than 1.5% and settled at 12,215.40. All the sectoral indices ended the day in the positive territory, except Nifty IT index. Nifty PSU Banks, Nifty Private Bank, Nifty Auto, Nifty Realty, and NIfty Media indices were all up about 2.5%. On the downside, Nifty IT index settled with 0.5 per cent cut.

As the conflict between Iran and the US has temporarily been muted, thereby global markets also took relief with gains in both the US and the Asian market yesterday. Hong Kong’s Hang Seng and Shanghai blue chips each added more than 1%, while Japanese stocks rose further, gaining 2% to their highest for the year so far.

US Dow also surges with ease of tensions with Iran. The Dow Jones Industrial Average closed 211.81 points higher or 0.7% at 28,956.90 overnight. The S&P 500 climbed 0.7% to 3,274.70 while the Nasdaq Composite gained 0.8% to end at 9,203.43. The US awaits the Non-Farm Payroll data to be released today.

For today, the Asian markets are mostly higher. Japan’s Nikkei index was trading up by 0.15% but seems to lose the morning momentum. Hong Kong Hang Seng index was slightly up by 29 points. All attention has been focussed on the US-China trade deal to happen on January 15th. Trump also said he would travel to Beijing to begin new phase of trade deal at a later date.

Oil futures fall with signals of de-escalation of tensions between the United States and Iran. US oil futures shed 0.3% to $59.40 per barrel today. Brent crude, a global oil benchmark, dropped 0.2% to $65.17 per barrel.

Indian indices on Friday were trading with gains continuing the positive trend. Nifty gains 36 points. Nifty sectoral indices were trading in the green. Nifty Realty and Nifty Pharma indexes, both up 0.7%, gained the most.In the broader market, the S&P BSE MidCap index climbed 55 points or 0.4%, and the S&P BSE SmallCap index was up 75 points, or 0.53%.

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