Thursday, 12 January 2017

Opening Bell - Sensex, Nifty open in green on positive clues from global markets

The BSE Sensex opened higher by 60 points at 27,201, while the Nifty50 opened higher by mere 10 points at 8,390 mark.

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The BSE Sensex opened higher by 60 points at 27,201, while the Nifty50 opened higher by mere 10 points at 8,390 mark.

The Indian rupee opened higher by 17 paise against US Dollar at 68.15 per dollar versus 68.32 Wednesday.

Yen witnessed strong recovery against the greenback, as the differentials between US 10yr and Japanese bonds narrowed.

Conversely, Mexican Peso plummeted to fresh lows amid concerns of US automobile companies curtailing production capacity in Mexico.
Intraday Tips

Asian stock markets were mixed today, as US President-elect Donald Trump, at his first press conference after the elections, gave scant details on his likely policies.

Asian healthcare stocks fell in-line with losses in shares of drug-makers in the US, as Trump said pharmaceutical companies were "getting away with murder" by charging high prices.

Trump addressed issues from Russian hacking allegations to prices of drugs, there was a dearth of details on the timing and scope of policies from infrastructural spending to international trade pacts.

The strength in the yen against the dollar weighed on shares of major exporters in Japan, bringing the Nikkei 225 index down by nearly 1%.

Meanwhile, oil producing companies rose tracking gains in prices of crude oil as the dollar weakened, and on reports Saudi Arabia cut supply to Asia.

Meanwhile, Shanghai Composite is trading in green, South Korea’s Kospi index ​is ​at 2,078 points (up 0.16%) and Indonesia’s Jakarta Composite ​is ​at 5,316 points up (0.28%).

Taiwan’s Taiex at 9,416.47 points (up 0.75%), Singapore’s Straits Times at 3,010 points (up 0.31%), Hong Kong’s Hang Seng at 22,917.02 points (down 0.08%) and Singapore Nifty at 8,421 points (up 0.29%).

Wall Street ended higher after a volatile day on Wednesday led by gains in oil producing companies, as prices of crude oil surged on the back of a weak dollar and reports that Saudi Arabia cut some supply to Asia.

The Nasdaq composite fell after Trump made his remarks, as the iShares Nasdaq Biotechnology ETF (IBB) fell 3%. The tech-heavy index, however, ended the session 0.2% higher at a record closing level. The S&P 500 advanced 0.3%, shrugging off a 1% decline in health care.

Energy stocks led the way in the S&P, rising 1.2%. Nasdaq Composite index settled 0.21% up at 5,563.65. Dow Jones Industrial Average index closed 0.50% up at 19954.28.

European stocks closed higher on Wednesday as investors digested comments from Trump's first press conference.

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