Asian markets were trading lower. China’s Shanghai Composite was down 0.48% or 9.92 points at 2,068.58.
Japan’s Nikkei was flat at 9,163.77.
Singapore’s Straits Times was down 0.25% or 7.58 points at 3,071.14.
South Korea’s Seoul Composite was down 0.21% or 4.16 points at 1,998.19.
Taiwan’s Taiwan Weighted was down 0.42% or 32.80 points at 7,729.42.
Hong Kong’s Hang Seng was up 0.16% or 32.58 points at 20,690.69.
The US markets snap a four-day rally, pulling back from Fed-fueled multi-year highs, amid fresh geopolitical worries and following a sharp drop in oil prices. Despite the day’s pullback, all three major averages are still up more than 3% for the month.
Dow Jones Industrial Average was down 0.3% or 40.27 points at 13553.1. Nasdaq Composite was down 0.17% or 5.28 points at 3178.67. Standard & Poor’s 500 was down 0.31% or 4.58 points at 1461.19.
In stock specific action Apple crossed USD 700 a share in after-hours trading after closing at a new all-time high after the company said iphone 5 sales set a record over the weekend.
On economic data front, factory activity in New York state contracted for a second month in a row in September, falling to its lowest level in nearly 3-1/2 years as new orders shrank further.
In key data to watch out for in US today, housing market index is expected to rise to 38 in September.
In the currency space, the dollar hovers around 7-month lows against a basket of major currencies. The dollar index was below the 79 mark.
In commodities, Brent crude slipped to USD 111 levels in 3 minutes yesterday. It pares its losses to trade back above USD 114. In the meanwhile the US commodity futures trading commission is looking into the reason for the fall.
From the previous metals space, gold prices slip marginally to USD 1760 levels.
Indian ADRs ended lower on Monday. In the IT space, Wipro was down 0.78% at USD 8.92, Patni was down 0.21% at USD 19.06 and Infosys was up 0.08% at USD 48.19.
In the Banking space, HDFC Bank was down 0.32% at USD 37.02 and ICICI Bank was up 2.38% at USD 39.1. In the Telecom space, Tata Communication was down 1.22% at USD 8.88 and MTNL was down 2.04% at USD 1.44.
In the other space, Sterlite was up 0.13% at USD 7.69, Tata Motors was down 1.61% at USD 25 and Dr Reddys was down 2.83% at USD 30.93.
Market cues:
FIIs net buy USD 522 million in cash market on Sep 14
MFs net sell Rs 202 crore in cash market on Sep 14
As per provisional data of September 17, FIIs were net buyers of Rs 2252 crore in cash market. FIIs were net buyers of Rs 1976 cr in F&O. DIIs were net sellers of Rs 838 cr in cash market.
F&O cues:
Nifty options suggest market range of 5400-5700
Total Puts add 42.4 lakh shares in Open Interest
Total Calls adds 10.3 lakh shares in Open Interest
5800 Call adds 22 lakh shares in Open Interest
5700 Call adds 7.7 lakh shares in Open Interest
5600 Put adds 11 lakh shares in Open Interest
5500 Put adds 9 lakh shares in Open Interest
5600 Call sheds 14 lakh shares in Open Interest
Total Nifty Futures added 12.3 lakh shares in OI
Stock Futures adds 62.2 lakh shares in OI
Nifty PCR rose to 1.1 from 1.03
India VIX closed at 17.78 up by 15.6%
FIIs in F&O on Sep 17
FIIs net buy Rs 1122 cr in Index Futures; Index Futures Open Int contracts up by 21420
FIIs net buy Rs 541 cr in Index Options; Index Options Open Int contracts up by 118440
FIIs net buy Rs 428 cr in Stock Futures; Stock Futures Open Int contracts up by 11715
Asian markets were trading mixed. China’s Shanghai Composite was flat at 2,050.71.
Hong Kong’s Hang Seng was down 0.11% or 20.83 points at 19,532.08.
Japan’s Nikkei was down 0.84% or 75.76 points at 8,908.02.
Singapore’s Straits Times was up 0.11% or 3.20 points at 3,015.02.
South Korea’s Seoul Composite was flat at 1,905.49.
Taiwan’s Taiwan Weighted gained 0.31% or 22.75 points at 7,394.19.
The US accelerate their losses in the final minutes of trading to close near session lows, with the S&P 500 closing just below the key 1,400 level, a day ahead of the Fed’s Jackson Hole meeting and following reports that Spain may delay its decision on seeking a bailout. The CBOE volatility index jumped to close near 18.
Dow Jones Industrial Average fell 0.81% or 106.77 points at 13000.71. Nasdaq Composite slipped 1.05% or 32.48 points at 3048.71. Standard & Poor’s 500 shed 0.78% or 11.01 points at 1399.48.
On economic data front, jobless claims were unchanged last week holding at a seasonally adjusted 374,000. Consumer spending gained 0.4% in July, climbing by the most in five months. Meanwhile, income increased 0.3%.
In key data to watch out for in US today, factory orders are expected may grow by 2%. Also global market watch out for consumer sentiment data.
In the currency space, the euro stabilises after slipping to 1.24 ahead of the Jackson Hole meet.
In commodities, Brent crude prices holding above USD 112 levels supported by supply concerns and geopolitical. Meanwhile, Nymex crude eases further to sub USD 95 levels.
Indian ADRs ended lower on Thursday. In the IT space, Patni was down 2.95% at USD 18.11, Infosys was down 0.8% at USD 42.41 and Wipro was down 0.62% at USD 7.98.
In the Telecom space, MTNL was down 9.27% at USD 1.37 and Tata Communication was up 0.61% at USD 8.2. In the Banking space, ICICI Bank was down 1.45% at USD 32.66 and HDFC Bank was down 0.09% at USD 34.08.
In the other space, Dr Reddys was down 1.35% at USD 29.89, Tata Motors was down 0.52% at USD 20.99 and Sterlite was down 0.14% at USD 7.25.
The US markets ended lower, on a late day reversal dragged by techs, as investors took profits. The Nasdaq erased 9 points to close at 3,067. Earlier, the Nasdaq hit an intraday high of 2,799 its highest level since December 2000. The S&P 500 to rose to fresh 4 year highs in intraday trade, but ended the day down 0.35%. The CBOE volatility index jumped 7% to above 15 levels.
Dow Jones Industrial Average slipped 0.51% or 68.06 points at 13203.58. Nasdaq Composite was down 0.29% or 8.95 points at 3067.26. Standard & Poor’s 500 shed 0.35% or 4.96 points at 1413.17.
In key data to watch out in the US today, investors will be looking ahead to the release of the Federal Reserve’s latest minutes from its July meeting. Also watch out for existing home sales data that may rise to 4.5 million annual rates.
In the currency space, the euro rises to a 6-week high ahead of euro zone regional leaders meet this week to discuss Greece’s fiscal adjustment program. The dollar index slips below the 82 mark.
In commodities, crude prices gain with Brent just shy of the USD 115 mark after a report showed that stockpiles declined the most in three weeks in the US.
From the precious metals space, gold prices gain more than a percent on further stimulus talks. Platinum too hit a three and a half month high.
Indian ADRs ended higher on Tuesday. In the IT space, Wipro was up 2.13% at USD 8.16, Infosys was up 1.92% at USD 43.49, and Patni was up 0.76% at USD 18.5.
In the Telecom space, Tata Communication was up 1.81% at USD 8.46 and MTNL was up 0.84% at USD 1.2. In the Banking space, ICICI Bank was up 0.69% at USD 35.18 and HDFC Bank was down 0.68% at USD 34.97.
In the other space, Sterlite was up 4.87% at USD 8.19, Tata Motors was up 1.38% at USD 22.04 and Dr Reddys was up 1.81% at USD 29.89.
Asian markets were trading mixed. Hong Kong’s Hang Seng rose 0.62% or 123.25 points at 20,086.20.
Japan’s Nikkei advanced 0.64% or 58.17 points at 9,150.93.
Singapore’s Straits Times was up 0.14% or 4.37 points at 3,067.26.
South Korea’s Seoul Composite shed 0.51% or 9.91 points at 1,948.
China’s Shanghai Composite was down 0.14% or 3.01 points at 2,109.19.
Taiwan’s Taiwan Weighted was flat at 7,495.14.
The US markets have their best session in nearly two weeks as German Chancellor Angela Merkel reiterates her support for the ECB’s plans to fight the euro zone crisis and as the Dow component Cisco systems hiked its dividend 75%. The CBOE volatility index slipped to just above 14, a five-year low.
Dow Jones Industrial Average gained 0.65% or 85.33 points at 13250.11. Nasdaq Composite added 1.01% or 31.46 points at 3062.39. Standard & Poor’s 500 rose 0.71% or 9.98 points at 1415.51.
In economic data, weekly jobless claims rose last week to a seasonally adjusted 366,000, in line with expectations. Factory activity in the mid-atlantic area contracted for the fourth-straight month in August. And housing starts unexpectedly fell in July to a seasonally adjusted annual rate of 746,000.
In the currency space, the euro gains versus the dollar, above 1.23 as Chancellor Angela Merkel reiterates her support for the ECB’s plans to fight the euro zone crisis.
In commodities, Brent crude prices at 3 month peak following weakness in dollar and comments from German Chancellor Angela Merkel.
In the precious metals space, gold prices gain on further stimulus hopes.
Indian ADRs ended mixed on Thursday. In the IT space, Infosys was up 1.69% at USD 42.08, Patni was down 0.11% at USD 18.38 and Wipro was down 0.37% at USD 8.02.
In the Telecom space, Tata Communication was up 1.68% at USD 8.47 and MTNL was up 0.33% at USD 1.21. In the Banking space, HDFC Bank was up 0.74% at USD 35.27 and ICICI Bank was down 0.89% at USD 34.44.
In the other space, Tata Motors was up 1.93% at USD 21.15, Dr Reddys was up 1.43% at USD 29.73 and Sterlite was down 0.88% at USD 7.88.
The US markets ended narrowly mixed in lackluster trading, with the Dow breaking a four-day winning streak, as investors digested a better-than-expected jobless claims report against waning optimism over the ECB to tackle the region’s debt crisis. Nevertheless, the 5 day rally on the S&P 500 has helped it move nearly 10% higher from the lows of early June.
Dow Jones Industrial Average was down 0.08% or 10.45 points at 13165.19. Nasdaq Composite was up 0.25% or 7.39 points at 3018.64. Standard & Poor’s 500 was up 0.04% or 0.58 points at 1402.8.
On economic data front, weekly jobless claims unexpectedly fell last week, slipping 6,000 to a seasonally adjusted 361,000. Trade deficit narrowed in June as lower oil prices curbed imports. And wholesale inventories in June posted their steepest decline since September.
In key data to watch out for in US today, data may show that export prices declined by 0.1% versus the 1.7% plunge in June. Meanwhile, import prices could see a 0.2% rise for the month of June.
In the currency space, the euro slips below 1.23 to the dollar as traders booked profits on recent gains.
In commodities, crude prices gain with Brent above USD 113 levels lifted by stronger-than-expected economic data in the US and a lower outlook for North Sea Brent production.
From the precious metals, gold prices gain on fresh stimulus hopes in China.
Indian ADRs ended mixed on Thursday. In the IT space, Patni was up 0.79% at USD 18.6, Infosys was up 0.34% at USD 41.59 and Wipro was up 0.25% at USD 8.07.
In the Telecom space, MTNL was up 2.54% at USD 1.21 and Tata Communication was down 1.49% at USD 8.58. In the Banking space, HDFC Bank was up 0.06% at USD 35.32 and ICICI Bank was down 0.4% at USD 34.97.
In the other space, Sterlite was up 3.1% at USD 7.99, Dr Reddys was down 0.73% at USD 29.9 and Tata Motors was down 3.57% at USD 21.34.
F&O cues:
Nifty options suggest market range of 5200-5400
Total Puts add 6.7 lakh shares in Open Interest
Total Calls add 17.6 lakh shares in Open Interest
Highest OI buildup seen in 5000 Put & 5500 Call
5000 Put sheds 94K shares in Open Interest
5500 Call sheds 3.7 lakh shares in Open Interest
5400 Call adds 6.3 lakh shares in Open Interest
5300 Put adds 1.8 lakh shares in Open Interest
5100 Put adds 1.1 lakh shares in Open Interest
Total Nifty Futures added 3.3 lakh shares in OI.
Stock Futures adds 93.3 lakh shares in OI
Nifty PCR fell to 1.15 from 1.17.
India VIX closed at 16.33 down by 0.24%
FIIs in F&O on August 09
FIIs net buy Rs 27 cr in Index Futures; Index Futures Open Int Contracts up by 15419
FIIs net buy Rs 438 cr in Index Options; Index Options Open Int Contracts up by 42998
FIIs net sell Rs 331 cr in Stock Futures; Stock Futures Open Int Contracts up by 24381
* Disclaimer: These recommendations are based on the theory of technical analysis and outlook of the market performance. Readers those who buy and sell securities based on the above information in this column are solely responsible for their actions. The author won't be liable or responsible for any sort of financial and legal loses suffered by the traders.
Asian markets were trading lower. China’s Shanghai Composite was down 0.48% or 9.92 points at 2,068.58.
