Market likely to open flat to positive; eye on Brexit vote
Chirag Gothi / 23 Jun 2016
Markets in Asia were mixed in early trade on Thursday, as investors were cautiously optimistic that British voters would opt to remain in the European Union at a referendum. On the domestic front, A SGX Nifty 50 index future for June series is trading up by 11.50 points at 8,215.50. Indian markets are likely to open flat to positive tracking SGX Nifty.
Indian equities indices fell for their second straight session on Wednesday, as Brexit worries continued to affect investors sentiments globally. Sectoral front, FMCG and Auto stocks were under pressure; while Pharma and select private banks gained. The Sensex fell 47.13 points to 26765.65 and the Nifty declined 16.20 points to 8203.70. The broader markets were also weak as the BSE Midcap slipped 0.12% and Smallcap was down 0.6%. On currency front, the Indian rupee recovered after a weak start and was trading around 67.45 a dollar by late afternoon, slightly higher than Tuesday's close.
U.S. stocks finished slightly lower on Wednesday, as oil prices fell and investors braced for the U.K.’s coming vote on membership in the European Union. The Dow Jones Industrial Average slipped 48.90 points, or 0.3%, to 17780.83. The S&P 500 fell 3.45 points, or 0.2%, to 2085.45, and the Nasdaq Composite Index lost 10.44 points, or 0.2%, to 4833.32.
European equities closed in positive territory on Wednesday, as investors appeared to remain confident that Brits will vote to stay in the European Union. The Stoxx Europe 600 rose 0.4% to close at 341.32. The U.K’s FTSE 100 ended 0.6% higher at 6,261.19. Germany’s DAX 30 rose 0.6% to 10,071.06 and France’s CAC 40 edged up 0.3% to 4,380.03.
Crude Oil prices slid Wednesday after a smaller-than-expected U.S. inventory drawdown; and amid jitters ahead of a vote on whether Britain should stay in the European Union. WTI oil fell 1.4% to USD 49.13 a barrel and Brent, the global benchmark, fell 74 cents, or 1.5%, to USD 49.88 a barrel.
Markets in Asia were mixed in early trade on Thursday, as investors were cautiously optimistic that British voters would opt to remain in the European Union at a referendum. Japan's Nikkei 225 index rose 0.49% while across the Korean Strait, the Kospi was down 0.45%. Australia’s S&P/ASX 200 and New Zealand’s S&P/NZX 50 Indices increased 0.15% and 0.63% respectively. Chinese markets opened lower with the Shanghai composite shedding 0.12%.
On the domestic front, A SGX Nifty 50 index future for June series is trading up by 11.50 points at 8,215.50. Indian markets are likely to open flat to positive tracking SGX Nifty.
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