STOCK

First bell: Top cues for today’s stock market

US stocks mixed, Asian markets weak

Hey there! Here’s your morning briefing on possible market drivers for the day.

Weak signal from Singapore
Nifty futures traded with mild cuts on the Singapore Stock Exchange, down over 50 points, weakness ahead on Dalal Street.

Tech drags Asian markets
Asian shares are down this morning, weighed down by a plunge in high-flying technology shares. Japan’s Nikkei dipped 0.3 per cent, led by a fall in Sony and other tech shares.

Dow up, S&P500 down
US stocks closed mixed in overnight trade. The Dow rose 103 points, or 0.44 per cent, to 23,940, while the S&P500 index lost 0.97 point, or 0.04 per cent, to 2,626 and the Nasdaq dropped 88.02 points, or 1.27 percent, to 6,824.

Rupee hits 10-week high
The Indian rupee strengthened for a third session on Wednesday to close at a 10-week high against the US dollar ahead of the release of September quarter gross domestic product (GDP) data. The home unit rose 0.14 per cent from Tuesday’s close of 64.41 to end at 64.32 to the dollar, a level last seen on September 20.

Sensex@35,700 by next Dec: MS
Morgan Stanley has set a December 2018 target of 35,700 for the Sensex, up just 6 per cent from Wednesday close of 33,602. The brokerage said a combination of supportive global growth, improving capex, fiscal spending and a buoyant consumer augur well for growth in 2018.

Market-wide rollovers at 57%
Rollover of F&O contracts till the day of penultimate day on Wednesday stood at 57 per cent compared with a three-series average of 51 per cent. Nifty futures rollover stood at 46 per cent compared with a three-series average of 42 per cent.

Goldman sounds alarm
Goldman Sachs Group says a prolonged bull market across stocks, bonds and credit has left a measure of average valuation at the highest since 1900, a condition that at some point is going to translate into pain for investors.

Tags
Show More

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Close