Indian equity markets opened with a positive bias on Wednesday following decision of the IT department to soothe foreign investors' nerves by putting in abeyance its December 21 circular that amplified their concerns over a potential rise in tax liability. The positive sentiment got a further boost as an UN report claiming that India was still the fastest growing large developing economy and that the country would grow at 7.7 per cent in the financial year 2017.
But the bulls struggled at higher level as profit booking emerged and market ended the session with marginal gains. The market breadth remained positive, as there were 1,506 shares on the gaining side against 1,245 shares on the losing side, while 174 shares remain unchanged. Finally, the BSE Sensex gained 21.98 points to finish at 27,257.64, while the CNX Nifty was up by 19.00 points to close above its psychological level of 8400.
The European markets were stuck in a sideways trend throughout Wednesday’s trading session. Investors were in a cautious mood ahead of Thursday’s policy meeting of the European Central Bank. Germany’s DAX gained 0.51 per cent, while CAC 40 of France slipped 0.13 per cent. The FTSE 100 of U.K. increased 0.38 per cent.
The U.S. stocks finished mixed on Wednesday. The S&P 500 gaining 4 points to close at 2,271 and the Nasdaq Composite Index rose 16 points to close at 5,555, while the Dow Jones Industrial Average bucked the trend to close at 19,804 with loss of 22 points.
Asian markets are trading mixed. Japan’s Nikkei 225 is trading with gains of over 1% at 19,104.09, while Hong Kong’s Hang Seng and China’s Shanghai Composite are trading in the red with losses of 0.30% and 0.20%, respectively.
The SGX Nifty index was trading lower at 8,431, indicating a quite start for the India markets. Axis Bank and Yes Bank will announce their quarterly results today.
But the bulls struggled at higher level as profit booking emerged and market ended the session with marginal gains. The market breadth remained positive, as there were 1,506 shares on the gaining side against 1,245 shares on the losing side, while 174 shares remain unchanged. Finally, the BSE Sensex gained 21.98 points to finish at 27,257.64, while the CNX Nifty was up by 19.00 points to close above its psychological level of 8400.
The European markets were stuck in a sideways trend throughout Wednesday’s trading session. Investors were in a cautious mood ahead of Thursday’s policy meeting of the European Central Bank. Germany’s DAX gained 0.51 per cent, while CAC 40 of France slipped 0.13 per cent. The FTSE 100 of U.K. increased 0.38 per cent.
The U.S. stocks finished mixed on Wednesday. The S&P 500 gaining 4 points to close at 2,271 and the Nasdaq Composite Index rose 16 points to close at 5,555, while the Dow Jones Industrial Average bucked the trend to close at 19,804 with loss of 22 points.
Asian markets are trading mixed. Japan’s Nikkei 225 is trading with gains of over 1% at 19,104.09, while Hong Kong’s Hang Seng and China’s Shanghai Composite are trading in the red with losses of 0.30% and 0.20%, respectively.
The SGX Nifty index was trading lower at 8,431, indicating a quite start for the India markets. Axis Bank and Yes Bank will announce their quarterly results today.
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