The markets have opened the week on a positive note tracking gains in the US markets and in wake of the sell-off witnessed in the past two weeks.
At 9:20am, the Sensex is quoting at 27,202, higher by 194 points or 0.7% and the Nifty is at 8239, up 57 points.
The BSE Sensex had dropped 426 points or 1.5% to end the past week at 27,011 and the Nifty had declined 123 points, or 1.4% to close below the 200-day moving average (DMA) at 8,181.
The debate on the Constitution Amendment Bill in respect of Goods and Services Tax (GST), the passage of the Land Acquisition Bill and the outcome of monthly manufacturing and services sector surveys will be keenly awaited. The next batch of March quarterly results will also dictate the trend on the bourses.
GLOBAL MARKETS
Asian share markets stumbled on Monday and the Australian dollar took a hit after disappointing news on Chinese manufacturing underlined the need for further policy stimulus in the world's second biggest economy.
The HSBC/Markit Purchasing Managers' Index (PMI) fell to 48.9 in April - the lowest level since April 2014 - from 49.6 in March, as demand faltered and deflationary pressures persisted.
Shanghai shares were off 0.6%, while the CSI300 index of the largest listed companies in Shanghai and Shenzhen fell 0.3%.
However, the Dow ended up 1.03% on Friday, while the S&P 500 gained 1.09% and the Nasdaq 1.29%.
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