12:59 pm Market Update:
The Sensex rose 185.87 points or 0.68 percent to 27330.78 and the Nifty was up 53.80 points or 0.65 percent at 8382.15.
The market remained positive as about two shares advanced for every share falling on the Bombay Stock Exchange.
12:50 pm FII View:
The monsoon looks good, Chetan Ahya of Morgan Stanley said. He is focussing on private capital expenditure which is connected to the capacity utilisation in the manufacturing sector.
"It will be around 12 months before we see private capex recovery."
He is also watching closely the state-owned banks which are under a huge mountain of debt. He sees India growing at 7.5 percent this fiscal year. If monsoons are better than normal, then we have upside risks to it, he said.
Considering food and headline inflation are high, he sees the Reserve Bank of India cutting rates only when they come down. He sees a rate cut only in October, and not in August.
12:40 pm Europe opens:
European stocks opened slightly higher amid a continuing recovery in global stocks after the Brexit vote. The pan-European STOXX 600 was up 0.3 percent.
European markets followed gains in Asia where markets traded higher today, continuing a post-Brexit global recovery, with major indexes in Australia and Japan reversing early losses.
The Australian federal election over the weekend failed to produce a clear winner, with major parities failing to gain an outright majority, raising the prospect of prolonged political uncertainty. US markets are closed on Monday for the July 4th Independence Day holiday.
12:30 pm Oil Update:
Oil futures were steady today following comments from the Saudi energy minister that the market was heading towards balance, although signs of slowing demand in Asia weighed.
Brent crude futures were trading at USD 50.64 per barrel, up 0.58 percent. US crude was up 0.5 percent at USD 49.24.
There will be no West Texas Intermediate crude settlement on Monday as US financial and commodity markets are closed for the US Independence Day holiday.
Call: 7415033556
This post carries really good information on Indian stock market. Traders can learn good facts about stock market here. We at epic research depicts similar updates on social media.
ReplyDelete