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Morning cues: Nifty likely to be volatile today

Market on Wednesday consolidated with positive bias on Wednesday but with the SGX Nifty in the negative at around 8405.50 levels, minus 7.50 points at 8 am today, it is likely to be a volatile day for the Nifty

In the US on Thursday stocks climbed, lifting the Dow and S&P 500 to records, after upbeat economic reports in the US Jobless benefits fell by 10,000 to 278,000 last week, to 285,000. Cnbc’s hampton pearson wraps up all the action for us.

In key data to watch in the US today is the non-farm payrolls which is expected to decline to 240,000, meanwhile unemployment rate may remain unchanged at 5.9%.

In Europe, the ECB president Mario Draghi assured that the bank would adopt further easing measures, if needed.

Yesterday, it decided to keep interest rates unchanged in its monetary policy review. However, president Mario Draghi’s dovish comments soothed the equity markets and shares closed mixed.

The president had been the subject of speculation that members of the ECB governing council were planning to challenge him over his management and communication style.

In the Aisan markets, Nikkei saw some profit booking in Thursday’s session but renewed its upmove as the yen move to 114, in the morning.

However, in the currency space, the euro languishes near two-year lows against the dollar after European Central Bank after Draghi renewed his pledge to take necessary steps to stimulate a sluggish euro zone economy.

In commodities, Brent crude prices flat near 82 dollars per barrell on  an apparent momentum towards a deal between iran and world powers over its nuclear program and higher u-s inventories

From precious metals space –  gold prices drop further to 1140 dollars an ounce.

Back home the India’s stocks, bonds and currency markets were closed on Thursday for Guru Nanak Jayanti. On Wednesday, the Sensex closed 0.2 percent higher at 27,915.88 on Wednesday. Earlier, it rose as much as 0.54 percent to break above the 28,000 mark and touched a fresh record high of 28,010.39. The Nifty gained 0.17 percent to 8,338.30. The index gained as much as 0.5 percent to hit a record high of 8,365.55 points.


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