Despite a fall from higher levels that resulted in a brief spell in the negative territory around early afternoon, the Indian benchmark indices ended Monday’s trading session gathering modest gains with select stocks witnessing strong buying in the final hour. On the BSE sectoral space, buying was evident across the board and investors piled up hefty positions in the high beta Metal counter, which zoomed by over two per cent, while the PSU, Oil & Gas and FMCG stocks registered gains of about a per cent each. However, Capital Goods index settled with moderate losses of over half a per cent. Eventually, the NSE’s 50-share broadly followed index Nifty, rallied by half a per cent to settle at 8391, while Bombay Stock Exchange’s Sensitive Index, Sensex added over eighty points and closed above the psychological 27100 mark.European markets ended in the negative territory on Monday. The DAX of Germany plunged 0.73 per cent; and the CAC 40 of France fell 0.60 per cent. The FTSE 100 of the U.K. corrected 0.66 per cent.The U.S. stocks retreated on Monday as uncertainty mounted over how President Donald Trump plans to implement his pro-growth policies. The Dow Jones Industrial Average shed 26 points to end at 19,800. The Nasdaq Composite index edged down 2 points to close at 5,552; and the S&P 500 fell 5 points to close at 2,265.Asian stocks are trading in the mix on Tuesday, where Nikkei 225 is trading lower by 0.07 per cent at 18,877.10; whereas, Hong Kong’s index, Hang Seng has gained 49 points; and Shanghai Composite has gained 2.37 points.At 7:57 am, SGX Nifty index has gained 17 points to 8,431, indicating a positive start for Indian equities. Today will be a busy day on the earning front as over 60 firms are to report their quarterly results today. The list includes HDFC Bank, Bharti Airtel, HCL Tech, Zee Entertainment, Biocon, TVS Motors, etc.
Markets may open flat to positive with stock specific volatility as the earning season is at its peak
by SGX Nifty · January 24, 2017
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