Home / Business / Money / Nifty likely to open flat; Asian mkts open in green

Nifty likely to open flat; Asian mkts open in green

Asian markets turned higher early Monday, with Japanese shares charging up to an 8-year high, shrugging off weaker-than-expected growth figures released before the market opened.

Power Breakfast

Excerpts from Power Breakfast on CNBC-TV18 Watch the full show »

The Nifty is likely to open flat with a positive bias with indicator SGX Nifty trading at 8855, up 4 points ay 7.52 AM.

Through the day, companies such as Hindalco ,  Sesa Sterlite are likely to remain in focus considering the coal block auction saw aggressive bidding. Hindalco successfully bid for non-regulated block Kathautia at Rs 2,860 per tonne and three coal blocks from the schedule 2 mines will be up for auction today. Schedule two coal mines are the cancelled producing coal blocks.

Asian markets turned higher early Monday, with Japanese shares charging up to an 8-year high, shrugging off weaker-than-expected growth figures released before the market opened.

Globally, it was a strong close for the US markets on Friday. Dow crossed the 18,000 mark and the S&P set a new record.

In Europe, equities closed higher on Friday with investor sentiment boosted by better-than-expected growth numbers out of the euro zone

Germany’s GDP number grew more than expected, expanding by 0.7 percent quarter-on-quarter. The German Dax hit a new all-time high.

In the currency space, the pound scaled a six-week peak following recent hawkish-sounding comments from the Bank of England, while other major currencies remained subdued.

In commodities, Brent hit an eight-week high above USD 62 a barrell after another drop in the US rig count.

From the precious metals space, gold prices continued to hover around USD 1230 an ounce.

Leave a Reply

x

Check Also

Rupee recovers 6 paise to 67.01

The rupee today recovered some lost ground by rising 6 paise to ...

Notes ban to have positive impact on economy

NEW DELHI: The government’s demonetisation move has led to widespread adoption of ...