Indian benchmark indices may open on a flat to positive note taking positive cues from global indices and expected rise in oil companies. However, the earnings reports of the state-run power equipments company BHEL and pharma major Cipla would be out in the later session and would be keenly watched.
Indian benchmark indices may open on a flat to positive note taking positive cues from global indices and expected rise in oil companies. However, the earnings reports of the state-run power equipments company BHEL and pharma major Cipla would be out in the later session and would be keenly watched. Today, 101 more companies are expected to declare their results which would drive other indices. SGX Nifty too was up at 10,511 with 0.3 per cent rise at 7:31 hours.
Asian markets are seen trading on a mixed note, with investors still remaining watchful of Trump’s visit to five countries in the Asian continent, while energy shares are striving to lift the indices. Other global bourses too have closed a bit higher on the back of rising oil stocks and a likely anti-corruption suppression in Saudi Arabia. Nikkei 225 is up 0.5 per cent, Hang Seng has surged 0.9 per cent and Shanghai composite is up 0.4 per cent at 7:27 hours.
Earlier, domestic benchmark indices had opened on a negative note taking subdued cues from global bourses but witnessed recovery at the end of first hour driven by a surge in auto majors and PSU banks. Markets could breach the all-time highs, but could not sustain and retreated back to close almost flat.
Major US indices continued optimism at the start of the week, where Nasdaq, Dow Jones and S&P500 posted fresh highs on Monday’s session. The move was driven by revival in commodity prices. with the US crude for December delivery increasing by 3.1 per cent to USD 57.35 per barrel, posting its highest settlement since June 2015. Thereby, upsurge in energy stocks buoyed the indices. Nasdaq, Dow and S&P rose 0.3 per cent, 0.1 per cent and 0.1 per cent, respectively. November 7 marks Trump’s election anniversary and most of the major US indices have posted 20-plus per cent gains so far ever since Trump took over as the US president.
European markets traded were a mixed bag but closed with little or no change over the previous session, led by sharp change in commodity prices, majorly oil, and corporate earnings reports. Eurozone producer price inflation rose 2.9 per cent in September as against 2.5 per cent in August and against the expected 2.8 per cent. Germany’s factory order grew 1 per cent in September posting second straight monthly rise.
