At 9:15 AM, the S&P BSE Sensex is trading at 26,020, up 60 points, while NSE Nifty is trading at 8,045 up 43 points.
The Indian rupee opened lower by 11 paise at 68.36/$ against the previous close of 68.25/$. The rupee fell to its lowest level since February 29.
Asian markets rose for the 3rd consecutive day as global cues turned bullish with US indices hitting fresh all time highs. China, Japan & the US are seeing fresh flows as bull market syndrome drives stocks higher. Commodities lead the rally with base metals hitting fresh new 9 month highs.
The selling spree seems to have halted temporarily after India saw one of the biggest outflows in a nervous November. Such was the intensity of selling that hardly any sector was spared as foreign investors offloaded about $11 billion of equities and bonds in Asia’s emerging markets following Donald Trump’s surprise victory in the U.S. presidential election.
India has seen close to Rs.11,000 crore outflow this month; the worst ever for a month since 2002.
For now, the Nifty’s move above 8000 level may bring in some psychological relief ahead of the monthly expiry of derivative contracts on Thursday. Metal, Realty and Auto stocks saw some buying on Tuesday while Capital Goods and Power companies were at the receiving end.
The Dow Jones Industrial Average topped 19,000 intra-day. Gold is turning precious. Oil is inching higher but this may not be sustainable. Expectations that policy makers will extend their stimulus programmes have kept European bonds upbeat.
The Indian rupee opened lower by 11 paise at 68.36/$ against the previous close of 68.25/$. The rupee fell to its lowest level since February 29.
Asian markets rose for the 3rd consecutive day as global cues turned bullish with US indices hitting fresh all time highs. China, Japan & the US are seeing fresh flows as bull market syndrome drives stocks higher. Commodities lead the rally with base metals hitting fresh new 9 month highs.
The selling spree seems to have halted temporarily after India saw one of the biggest outflows in a nervous November. Such was the intensity of selling that hardly any sector was spared as foreign investors offloaded about $11 billion of equities and bonds in Asia’s emerging markets following Donald Trump’s surprise victory in the U.S. presidential election.
India has seen close to Rs.11,000 crore outflow this month; the worst ever for a month since 2002.
For now, the Nifty’s move above 8000 level may bring in some psychological relief ahead of the monthly expiry of derivative contracts on Thursday. Metal, Realty and Auto stocks saw some buying on Tuesday while Capital Goods and Power companies were at the receiving end.
The Dow Jones Industrial Average topped 19,000 intra-day. Gold is turning precious. Oil is inching higher but this may not be sustainable. Expectations that policy makers will extend their stimulus programmes have kept European bonds upbeat.
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