The present sentiment suggests a promising trajectory towards 21800-21850 for the Nifty. If it surpasses 21850, we might anticipate a further climb toward 22000, says Rupak De, Senior Technical Analyst at LKP Securities.
Trends on SGX Nifty indicate a negative opening for indices
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Trend on SGX Nifty indicate a negative opening for the index with a 95 points loss. The Nifty Futures were trading at 15,744 on the Singaporean Exchange. Deepak Jasani, Head of Retail Research, HDFC Securities, said: Indian markets could open lower, in line with largely negative Asian markets today and despite higher US markets on Friday.
Stocks rallied to records on Wall Street on Friday, and the Dow Jones Industrial Average closed above the 35,000 level for the first time, as the market continued to roar back from its short-lived swoon at the start of the week. The S&P 500 index climbed 44.31 or 1 percent to 4,411.79 to top its prior all-time high set early last week. The Dow rose 238.20 or 0.7 percent to 35,061.55 and the Nasdaq composite gained 152.39 or 1 percent to 15,836.99.
Markets surge as transitory inflation narrative reasserts itself as investors digest inflation and jobs data (SPY +1.2%). Producer Price Final Demand Again Increased Significantly.
Here is the current market situation from CNN Money
North and South American markets finished mixed as of the most recent closing prices. The Bovespa gained 1.21%, while the IPC led the S&P 500 lower. They fell 1.14% and 0.06% respectively.
What Is Moving the Markets
Here are the headlines moving the markets.
Iran To Saudi Arabia: Sell Our Oil And We Will Reduce Houthi Attacks Iran is looking to persuade its regional rival Saudi Arabia to help it to sell Iranian crude oil on international markets in exchange for limiting attacks from the Iran-aligned Houthi rebels in Yemen on Saudi oil infrastructure, Middle East Eye reported on Wednesday, quoting Iraqi officials with knowledge of recent secretive Iranian-Saudi talks in Baghdad. Iran is currently negotiating with the signatories to the so-called
February 08, 2021
Stocks to watch out for today: BEML, BHEL, L&T, HAL, ITC and VRL Logistics The domestic market appears to open the new week on a strong note. Indications from SGX Nifty, which is currently ruling at 15,035 as against the Friday Nifty futures close of 14,930 on Friday here, signal bulls are likely to have the upper hand on Monday, at least in the early part of the week.
Asia-Pacific markets such as Australia, Japan, China, Hong Kong Taiwan, and Singapore are ruling firm with gains in the range of 0.35-2 per cent.
On Friday, the S&P BSE Sensex closed well above 50,000-mark at 50,732 while Nifty50, which crossed the 15,000-mark, settled at 15,924, thanks to heavy buying by foreign portfolio investors.
In six months, the Indian market showed the highest return with 37% sandesh.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from sandesh.com Daily Mail and Mail on Sunday newspapers.