Thursday 8 December 2016

Opening Bell - Sensex Gains 196 Points, Nifty Opens In Green

Posted by suhani varma on Thursday, December 08, 2016 with No comments

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The S&P BSE Sensex is trading at 26,433 up 196 points, while NSE Nifty is trading at 8,152 up 50 points.

Asian markets opened sharply higher after the US markets overnight climbed 300 points with Europe also closing with large gains. This even as US$ saw profit booking, bond yields fell & oil traded lower after the sharp OPEC cut rally. The US markets are leading from the front with expectation of huge capex expansion & spending which is setting a bullish fervor globally.

Most Asian indices were trading higher today, in-line with the gains in US markets, amid speculation that the European Central Bank will extend its asset purchase program at its policy meet, later today. 
  
Industry is hoping that the ECB monthly asset purchases will continue and will be prolonged beyond this fiscal. Another factor which has been expected and accounted by the markets is the rate hike by the US. Japan opened at 18646, Hong Kong's Hang Seng opened at 22997, Taiwan's Straits Times started at 2967, and China's Shanghai Composite started at 3222. All Asian indices were trading in green at 8:30 am

On the other hand, US markets closed on higher side. The rally was led by dividend-yielding transportation, real estate and telecom shares. While, on the losing end were the biotechnology and pharma stocks. Here also, the traders are looking forward to the announcements by ECB Monetary Policy makers. Nasdaq Composite closed at 5393, Dow Industrial Avereage ended at 19549, while S&P 500 closed at 2241, wherein all the mentioned indices gained more than 1% at the end of the day.
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