Kolkata: Will the markets be able to put up another sparkling performance today? With the stock market putting up an all-round show of defiance of the shadow of the Israel-Iran conflict on Monday and ignoring the negative global cues on the morning of June 16, many could like to see a repeat performance, especially when the global indicators are overall positive on Tuesday morning. But GIFT Nifty, which is a significant indicators, is trading in the red, though marginally (0.09%).
The Israel-Iran conflict is also not showing any sign of early resolution, though investors derived some hope from US President Donald Trump’s mentions in the public domain. Whether the US Fed will cut rates tomorrow could be another factor in the minds of investors and they would be looking for cues.
Global markets this morning
All the key Asian equity market indicators are in the green on Tuesday morning. These include the vital Nikkei 225 of Japan, Hang Seng, Taiwan Weighted, KOSPI, Straits Times and Shanhai Composite. Two of the three US indices — S&P500 (0.94%) and Nasdaq (1.4%) ended in the green on Monday, while Dow Jones (0.31%) ended in the red.
On June 16, the Indian rupee rose 7 paise to close at 86.04 against the US dollar. The domestic equity markets, easing global crude prices and weakening dollar helped the Indian currency.
Sensex, Nifty on Monday
All the sectoral indices ended in the green with bank, FMCG, Capital Goods, Consumer Durables, IT, metal, realty, oil & gas rising by 0.5% to 1%. Sensex 30 surged 677.55 points (or 0.84%) to close at 81,796.15, while Nifty jumped 227.90 points (or 0.92%) to end the day at 24,946.50. In the Sensex pack, Ultratech (2.39%), Tech Mahindra (2.12%) and HCL Tech (1.66%) were the big gainers and Tata Motors (3.56%), Adani Ports (0.35%) and Sun Pharma (0.19%) were the main laggards. BSE Mid Cap and Small Cap indices gained by 0.93% and 0.38% respectively.
Adding to the infaltion relief, India’s WPI declined to a 14-month low of 0.39% in May, down from 0.85% in the previous month. This is the third consecutive month of decline in the Wholesale Price Index.
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The Indian stock market ignored all the negative indictors on Monday, June 16 morning and put up a sprightly performance, with all sectoral indices ending in the green. While all the global indicators are positive overall this morning, GIFT Nifty is trading in the red. Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
