Market Likely To Open Flat
Chirag Gothi / 18 Jun 2015
U.S. stocks ended slightly higher Wednesday after the Federal Reserve reassured investors it was in no rush to raise interest rates from historically low levels. Stocks in China opened lower on Thursday as investors digested release of the country's home price index. The SGX Nifty traded flat. Indian markets are likely to open flat following muted trend seen in other Asian markets.
Indian equities markets gained for the fourth straight day on Wednesday driven by rally in Cipla, HUL and RIL amid above-normal progress in monsoon. The Sensex closed the day’s trade up 146.15 points or 0.55% and the Nifty ended the day’s trade up 44.25 points or 0.55% up at 8,091.55 points. The broader markets also ended on a positive note.The BSE Mid-Cap Small-Cap and index rose 1.44% and 1.33% respectively.
The government has approved an increase in MSP (minimum support price) of certain farm products. There was a proposal to increase the MSP of paddy and pulses. The government has approved Rs 50 per quintal hike in MSP of paddy i.e. MSP of paddy increased by 3.7% to Rs 1,410 per quintal. Twenty-three crops are covered in MSP and key kharif crops include paddy, groundnut, ragi and pulses like arhar.
U.S. stocks ended slightly higher Wednesday after the Federal Reserve reassured investors it was in no rush to raise interest rates from historically low levels. The S&P 500 rose 4.15 points, or 0.2%, to 2,100.44. The Dow Jones Industrial Average gained 31.26 points, or 0.2%, to 17,935.74. The Nasdaq Composite added 9.33 points, or 0.2%, to 5,064.88.
WTI crude oil settled marginally lower at USD 59.92, recovering from the dive they took after an unexpected climb in gasoline inventories. Brent crude rose 17 cents to close at USD 63.87 in London.
European stocks fell as investors awaited the conclusion of the Fed meet. France’s CAC 40 falling 1% and Germany’s DAX slipping 0.6%. Greece’s Athex Composite index fell 3.2%.
Stocks in China opened lower on Thursday as investors digested release of the country's home price index. Property prices in the mainland fell at a slower pace of 5.7% YoY in May. China's Shanghai Composite index opened down 0.93%. Australia’s S&P/ASX 200 Index fell 1.24% and South Korea’s Kospi index advanced 0.84%. New Zealand’s NZX 50 Index lost 0.1% after the country’s economy grew less than forecast in the first quarter. The Topix index slipped 0.5% as the Bank of Japan starts a two-day policy meeting.
The SGX Nifty traded flat. Indian markets are likely to open flat following muted trend seen in other Asian markets.
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