The benchmark indices meandered between gains and losses to finally settle the day in the green - Nirmal Bang
Market Review
US: The Dow Jones Industrial Average fell in today's stock market amid a sharp drop in crude oil prices. Meanwhile, tech stocks bucked the trend and turned positive in afternoon trading. The Nasdaq closed nearly 0.2% higher, while the S&P 500 edged 0.1% lower. The Dow Jones industrials fell 0.3% and the small-cap Russell 2000 index lagged with a 0.6% loss.
Asia: Shares in Asia-Pacific were mixed in Tuesday morning trade following overnight declines for the Dow Jones Industrial Average and S&P 500 on Wall Street.
India: In a session marked by high volatility, the benchmark indices meandered between gains and losses to finally settle the day in the green, helped by gains in IT stocks and private lenders. However, broad-based selling was visible as the broader markets posted hefty losses and the advance-decline ratio favoured sellers. Overall, the BSE Sensex added 125 points or 0.2% to end at 54,403. Meanwhile, Nifty50 ended the day at 16,258, down 20 points or 0.1%. Market is expected to open on a flattish note and likely to witness sideways move during the day
Global Economy: Investor morale in the euro zone fell in August to a three-month low on a sharp drop in expectations due to concerns that new lockdown restrictions could loom in the autumn and beyond, a survey showed on Monday. Sentix's index for the euro zone fell to 22.2 points in August from 29.8 in July
German exports rose more than expected in June despite persisting supply bottlenecks in manufacturing, suggesting a solid recovery in Europe's biggest economy. Exports are now up for the 14th month in a row. Seasonally adjusted exports jumped by 1.3% on the month in June after a slightly revised rise of 0.4% in May.
Commodities: Oil prices rose on Tuesday, edging up from a three-week low in the previous session, but gains are likely to be limited on worries that rising COVID-19 cases and restrictions in China will dent fuel demand. Gold prices languished near multi-month lows on Tuesday, hurt by a rise in U.S. bond yields and a stronger dollar after robust U.S. jobs data last week raised bets over the Federal Reserve tapering stimulus earlier than expected.
Currency: The dollar was buoyant in early Tuesday trade as a run of strong U.S. job figures solidified expectations the U.S. Federal Reserve could soon start tapering its massive coronavirus-driven stimulus.
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