Market Round up:
Most Asia-Pacific stock markets rose this morning after U S Equities set a fresh all time High. Japan’s Topix pared initial gains and South Korean Kospi was up by 1 %. HK Hang Seng down just by 0.4 %. Shanghai Composite was little changed and Australia’s S & P /ASX 200 added 0.6 %.
On Wall Street major indices moved higher but gains were led by defensive sectors, as the high-flying tech sector paused. Dow rose by 454 points or 12.59 %. S & P 500 by 54 points or 1.54 % and NASDAQ 116 points or 0.98 %
Oil prices changed a little early on Thursday, was around near multi-week lows.. WTI crude Futures was up by 3 cents or 0.1 % to $ 41.54 per barrel while Brent Futures was down by 7 cents or 0.2 % to $ 44.36.
The Rupee depreciated by 16 P and settled at Rs 73.03 (provisional) against U S Dollars on Wednesday tracking muted domestic Equities and strengthening American currency.
The U S Dollar clung on to overnight gains and was with 1 % above the 28 month low hit on Tuesday. The Japanese Yen was little changed against the green pack. The offshore Yuan traded at 6.8327 per Dollar. The Euro was down by 0.2 %.
Gold and Silver edged lower on Wednesday in Indian markets and muted global cues and a strong Rupee. On MCX October Gold Futures fell 0.12 % to Rs 51,438 per 10 Gms while Silver Futures slumped 1.6 % or Rs 1150 to Rs 69732 per KG. In Global markets Gold -spot fell 0.7 % to $ 1957.15 per ounce as the U S Dollar rebounded from 2 year lows.
Maruti Suzuki, Hero Motor Corp and M & M- no. in \cars, 2 wheelers and tractors respectively, are planning a surge introduction over the next few months, making a revival from lock down months and a poor FY 20, said people with knowledge of the matter. demand is rising for personal transport because of Covid distancing norms while good harvest thanks to a normal monsoon has boosted farm income.
Big rebound in factory output: Activity in the country’s manufacturing sector rebounded in Aug after 4 months of contraction with new orders.
The economic environment shows signals of rebound and the same is reflected in various sectors which would impact the bourses in the coming days and the investors are advised to take cues while investing in the market.
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