MUMBAI: The market opened lower on Thursday tracking weak Asian markets, however, the cuts were not as severe as its peers. Secondline stocks bucked the trend. Metals and energy stocks edged lower while auto and power posted decent gains.
Bombay Stock Exchange’s 30-share Sensex fell 77.56 points to 9559.98. National Stock Exchange’s benchmark Nifty slipped 21.20 or 0.72 per cent at 2904.50 from its previous close.
IIP and inflation data are keenly awaited later Thursday. After turning negative for the first time in 15 years in October and showing partial recovery in November, India's industrial growth is likely to be positive but muted in the range of 1-2 per cent for December, economists forecast. Inflation data for the 12 month period to Jan 31 is forecast at 4.43 percent compared with 5.07 per cent in the previous week.
Meanwhile, US stocks rose in a choppy session on Wednesday after lawmakers reached a deal on a $789 billion stimulus package that is seen as crucial to reviving the recession-hit economy.
Investors will now strain their eyes on US weekly jobless claims and January retail sales data due later in the day, which will give a clearer indication of how the US economy is faring.
The Dow Jones Industrial Average rose 50.65 points, or 0.64 per cent, at 7,939.53, the Standard & Poor's 500 Index added 6.57 points, or 0.79 per cent, at 833.73 and the
Nasdaq Composite Index gained 5.77 points, or 0.38 per cent, at 1,530.50.
However Asian markets traded with a negative bias as weak trade data from China and an overnight slide in crude oil prices outweighed a compromise deal on the massive US stimulus plan.
www.economictimes.com
http://timesofindia.indiatimes.com/Business/Markets-open-lower-ICICI-Bank-drags/articleshow/4116162.cms
Bombay Stock Exchange’s 30-share Sensex fell 77.56 points to 9559.98. National Stock Exchange’s benchmark Nifty slipped 21.20 or 0.72 per cent at 2904.50 from its previous close.
IIP and inflation data are keenly awaited later Thursday. After turning negative for the first time in 15 years in October and showing partial recovery in November, India's industrial growth is likely to be positive but muted in the range of 1-2 per cent for December, economists forecast. Inflation data for the 12 month period to Jan 31 is forecast at 4.43 percent compared with 5.07 per cent in the previous week.
Meanwhile, US stocks rose in a choppy session on Wednesday after lawmakers reached a deal on a $789 billion stimulus package that is seen as crucial to reviving the recession-hit economy.
Investors will now strain their eyes on US weekly jobless claims and January retail sales data due later in the day, which will give a clearer indication of how the US economy is faring.
The Dow Jones Industrial Average rose 50.65 points, or 0.64 per cent, at 7,939.53, the Standard & Poor's 500 Index added 6.57 points, or 0.79 per cent, at 833.73 and the
Nasdaq Composite Index gained 5.77 points, or 0.38 per cent, at 1,530.50.
However Asian markets traded with a negative bias as weak trade data from China and an overnight slide in crude oil prices outweighed a compromise deal on the massive US stimulus plan.
www.economictimes.com
http://timesofindia.indiatimes.com/Business/Markets-open-lower-ICICI-Bank-drags/articleshow/4116162.cms
No comments:
Post a Comment