Market may remain volatile due to F&O expiry today
Chirag Gothi / 31 Mar 2016
Asian shares rose on Thursday, taking early cues from Wall Street gains overnight. On domestic front, A SGX Nifty 50 index future for March series traded down 2 points at 7,743. Indian markets are likely to open flat and going forward it may remain volatile due to F&O expiry today.
Indian equities indices surged by 1.8% on Wednesday and posted their biggest single-day percentage rise in about a month, tracking gains throughout Asian markets after Federal Reserve Chair Janet Yellen reasserted the Central Bank’s gradual approach to raising interest rates. Besides, latest statement by the Finance Minister that he will reach out to the Congress again to persuade it to support the much delayed GST bill in second half of the Budget Session beginning next month, added to positivity. The Sensex surged 438.12 points or 1.76% to 25,338.58 and the Nifty jumped 138.2 points or 1.82% quoting 7,735.20. Broader markets also outshined; the BSE Midcap and Small-Cap indices advance 1.81% and 1.87% respectively.
U.S. stocks closed on the upside for a third session in a row on Wednesday following dovish comments from Federal Reserve Chairwoman Janet Yellen. The Dow Jones industrial average rose 83.55 points or 0.5% to 17,716.66. The S&P 500 index gained 8.94 points or 0.4% to 2,063.95. The Nasdaq composite index added 22.67 points or 0.5% to 4,869.29.
European stocks gained for a second consecutive day prompted by the prospect that U.S. interest rates won’t be raised quickly. The Stoxx Europe 600 climbed 1.3% to close at 341.18. Germany’s DAX 30 rose 1.6% to 10,046.61 and France’s CAC 40 rose 1.8% to 4,444.42. The U.K.’s FTSE 100 rose 1.6% to 6,203.17.
Oil prices inched higher on Wednesday but sold off through most of the afternoon with opinions divided about the latest addition to U.S. stockpiles. WTI crude for May delivery, settled up 4 cents, or 0.1%, at USD 38.32 a barrel; and Brent crude gained 12 cents, or 0.3%, to USD 39.26 a barrel.
Asian shares rose on Thursday, taking early cues from Wall Street gains overnight. Japan's Nikkei 225 gave up early gains to trade marginally up 0.1%, South Korea’s Kospi index slid 0.50%. Australia’s S&P/ASX 200 Index added 1.33%. New Zealand’s NZX 50 Index gained 0.52%. Chinese markets traded higher, with the Shanghai composite up 0.15%.
On domestic front, A SGX Nifty 50 index future for March series traded down 2 points at 7,743. Indian markets are likely to open flat and going forward it may remain volatile due to F&O expiry today.
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