Overseas markets have sustained last week’s ascent. US stocks rallied on the back of upbeat auto sales and encouraging report on factory orders.
After a fantastic Friday, things have been rather quiet in the past couple of sessions, as market participants await the next catalyst. The opening is set to be positive. Overseas markets have sustained last week’s ascent. US stocks rallied on the back of upbeat auto sales and encouraging report on factory orders. Wall Street will be shut on Wednesday for the Independence Day holiday. European indices also extended recent gains. Asian markets are mostly steady.
The worldwide risk-on trade seems to be back for the time being amid optimism that last week’s EU deal will contain the spread of eurozone debt crisis. Hopes are also building on fresh monetary stimulus from the developed world. The outcome of ECB and Bank of England policy meetings will be tracked closely in this context.
Indian markets are bracing for the month-end RBI review besides the latest quarterly results, IIP data and inflation report. The broader market has been active lately but one must be careful while dealing with such stocks. The rising resistance line of broadening pattern has extended to 5320, which could turn out to be a hurdle for today’s session.
Trend in FII flows: The FIIs were net buyers of Rs. 5.89bn in the cash segment on Tuesday while the domestic institutional investors (DIIs) were net sellers of Rs. 5.43bn, as per the provisional figures released by the NSE.
The FIIs were net buyers of Rs. 5.91bn in the F&O segment on Tuesday, according to the provisional NSE data.
The foreign funds were net buyers of Rs. 38.94bn in the cash segment on Monday and the mutual funds were net sellers of Rs. 2.21bn on the same day, according to the SEBI figures.
Global Data Watch today: US Independence Day, Australia AIG performance of service index, Australia Retail Sales (May), China HSBC Services PMI (Jun), Germany Markit Services PMI (Jun), UK Markit Services PMI (Jun), EU Markit Services PMI (Jun), EU Markit PMI Composite and Eurozone Retail Sales (May).
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After a fantastic Friday, things have been rather quiet in the past couple of sessions, as market participants await the next catalyst. The opening is set to be positive. Overseas markets have sustained last week’s ascent. US stocks rallied on the back of upbeat auto sales and encouraging report on factory orders. Wall Street will be shut on Wednesday for the Independence Day holiday. European indices also extended recent gains. Asian markets are mostly steady.
The worldwide risk-on trade seems to be back for the time being amid optimism that last week’s EU deal will contain the spread of eurozone debt crisis. Hopes are also building on fresh monetary stimulus from the developed world. The outcome of ECB and Bank of England policy meetings will be tracked closely in this context.
Indian markets are bracing for the month-end RBI review besides the latest quarterly results, IIP data and inflation report. The broader market has been active lately but one must be careful while dealing with such stocks. The rising resistance line of broadening pattern has extended to 5320, which could turn out to be a hurdle for today’s session.
Trend in FII flows: The FIIs were net buyers of Rs. 5.89bn in the cash segment on Tuesday while the domestic institutional investors (DIIs) were net sellers of Rs. 5.43bn, as per the provisional figures released by the NSE.
The FIIs were net buyers of Rs. 5.91bn in the F&O segment on Tuesday, according to the provisional NSE data.
The foreign funds were net buyers of Rs. 38.94bn in the cash segment on Monday and the mutual funds were net sellers of Rs. 2.21bn on the same day, according to the SEBI figures.
Global Data Watch today: US Independence Day, Australia AIG performance of service index, Australia Retail Sales (May), China HSBC Services PMI (Jun), Germany Markit Services PMI (Jun), UK Markit Services PMI (Jun), EU Markit Services PMI (Jun), EU Markit PMI Composite and Eurozone Retail Sales (May).
[ Source ]
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