This is the excerpts from my morning market view that is posted early in the morning in my blog
US markets erased all 2020 losses. Nasdaq is hitting all-time highs
European markets consolidated after strong up move
Safe havens USD, JPY & Gold consolidated after recent losses.
Emerging market assets were positive
Asian markets are trading mostly in positive territory this morning
DIIs profit booking continues
FIIs purchases are moderating
Global Markets: -Going strong
US markets ended with gains yesterday. Nasdaq was hitting all-time highs while S&P 500 erased all its 2020 losses. European markets were flat after recent sharp up move. Emerging market ETFs/assets traded in US continued to trend up. All risk assets such as emerging market equities, high yield bonds, EM currencies were up. Crude oil was down because of Saudi Arabia limiting its production cuts to the agreed levels. This is unrelated to global risk on mood. Earlier Saudi Arabia was cutting oil production over and above the agreed levels. All-around risk on mood in the global markets is intact. Safe haven assets USD, JPY and Gold consolidating after recent losses.
ASIAN Markets this morning: - Positive
Asian markets are trading in positive territory this morning except for Nikkei which is flat. SGX Nifty is trading about 65 points above yesterday’s Nifty close.
There are no significant calendar events scheduled today. Import, Export and Trade balance numbers will be released tomorrow after market closes.,
India : How strong is Nifty?
Nifty opened strongly yesterday but it could not hold the gains and ended with comparatively smaller gain. FIIs purchases are moderating while DIIs’ profit booking is increasing. Advance decline ratio for broader market is still strong. Asset under management of Mutual funds increased by 2.6 % for the May’20 which shows retail investors are confident.
Where will Nifty go today? Click HERE to find out
Disclaimer: Author is not responsible or liable, directly or indirectly, for any form of damages whatsoever resulting from the use (or misuse) of information contained in or implied by this posting. This should not be relied on as a source of financial, investment or trading advice. What works for one individual may not work for anyone else. Always consult and check with your financial advisor. I am an active trader therefore I have conflict of interest with whatever I have mentioned here.