Market Likely To Open In Negative
Chirag Gothi / 29 Oct 2015
Asian stocks trimmed gains early Thursday, as investors digested the Fed's decision to leave interest rates near zero and give signaled its prepared to raise interest rates as soon as December. A SGX CNX Nifty Index future for October delivery was down 34 points at 8,145. Indian market is likely to open in negative on F&O expiry day.
Indian stock markets retreating for the third session in a row as investors remained cautious ahead of the conclusion of the US Federal Reserve’s meeting and tepid September quarter earnings of few companies. Besides, caution before the expiry of October series contracts in the derivatives segment on Thursday, influenced sentiment. The Sensex was down 213.68 points or 0.8% at 27039.76 and the Nifty slipped 61.70 points or 0.7% at 8171.20. The broader markets also showed weakness with the BSE mid-cap index ending 0.55% down while the small-cap fell 0.01%.
U.S. stocks ended higher Wednesday after the Federal Reserve left monetary policy unchanged but signaled that a rate increase is still on the table “at its next meeting” in December. The Dow Jones Industrial Average added 198.09 points, or 1.1%, to 17779.52. The S&P 500 rose 24.46, or 1.2%, to 2090.35, while the Nasdaq rose 65.55, or 1.3%, to 5095.69.
European markets closed sharply higher on Wednesday, as investor sentiment was boosted by earnings and a sharp rebound in oil prices. The Stoxx Europe 600 picked up 1.1% to end at 375.82. France’s CAC 40 rose 0.9% to end at 4,890.58, and in London, the FTSE 100 swung higher, rising 1.1% to close at 6,437.80. Germany’s DAX 30 gained 1.3% to end at 10,831.96.
The price of oil climbed more than 6% on Wednesday after the U.S. reported crude inventories rose less than expected and gasoline stocks fell. WTI crude, the benchmark North American contract, rose 6.1% or USD 2.76 to USD 45.94 a barrel and Brent oil, the main international contract, rose USD 2.15 to USD 498.96 a barrel.
Asian stocks trimmed gains early Thursday, as investors digested the Fed's decision to leave interest rates near zero and give signaled its prepared to raise interest rates as soon as December. Japan's Nikkei share average was nearly flat in choppy trade on Thursday morning after stronger-than-expected industrial output data helped reduce expectations that the Bank of Japan will announce additional easing on Friday. Australia’s S&P/ASX 200 Index lost 0.57% and New Zealand’s NZX 50 Index rose 0.1%. South Korea’s Kospi index reversed direction to head south and traded at flat. Share markets in China rebounded on Thursday, with the key Shanghai Composite up 0.4%.
A SGX CNX Nifty Index future for October delivery was down 34 points at 8,145. Indian market is likely to open in negative on F&O expiry day.
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