Home World Business Markets open lower, Nifty slips below 9,150 ahead of WPI data

Markets open lower, Nifty slips below 9,150 ahead of WPI data

2
0
SHARE

Sun Pharma (down 2%) was the top loser, while Dr Reddy’s was the top gainer (up 2%) on Sensex

SI Reporter  |  New Delhi  April 17, 2017 Last Updated at 09:20 IST

The benchmark indices on Monday opened lower as geopolitical worries simmered after US President dropped the ‘mother of all bombs’ on IS target in Afghanistan, while back home investors await the Wholesale Price Index (WPI)-based inflation data. 


At 09:17 am, the S&P BSE was ruling at 29,449, down 12 points, while the broader Nifty50 was trading at 9,149, down 0.85 points. 


In the broader market, the S&P BSE Midcap and S&P BSE Smallcap outperformed to gain 0.2% and 0.3%, respectively.  


“Going ahead, we need to keep a watch whether sustains above 9,200 levels or not. Once manages to sustain above 9,200 mark on closing basis, then we may witness up move rally towards 9,300-9,340 levels in coming trading session. Overall view is positive, hold the long positive with the trailing stoploss of 9,140,” said brokerage Nirmal Bang in a technical report. 

Sun Pharma (down 2%) was the top loser, while Dr Reddy’s was the top gainer (up 2%) on  


China’s Q1 GDP grows faster than expected


China’s economy grew 6.9% in the first quarter from a year earlier, slightly faster than expected, supported by a government infrastructure spending spree and a frenzied housing market that is showing signs of overheating.


The strong reading should help underpin wobbly global financial but adds to worries that China’s government is still relying too heavily on stimulus and “old economy” growth drivers and is not doing enough to tackle risks from an explosive build-up in debt.



are expected to remain focused on US data and its possible impact on the pace of interest rate hikes, and concerns over North Korea and the French presidential election.


dropped more than expected in March while annual core inflation slowed to 2% the smallest advance since November 2015, from 2.2% in February, data showed on Friday.


Global markets


MSCI’s broadest index of Asia-Pacific shares outside Japan fell 0.2% in holiday-thinned trade, while Japan’s Nikkei shed 0.4%. Chinese were mostly lower after Q1 GDP data. The Shanghai Composite declined by 0.725 while the Shenzhen Composite fell 0.8%. 


Equity such as Hong Kong, Italy, France and the UK will remain closed on Monday on account of Easter holidays. 

Markets open lower, Nifty slips below 9,150 ahead of WPI data

Sun Pharma (down 2%) was the top loser, while Dr Reddy’s was the top gainer (up 2%) on Sensex

Sun Pharma (down 2%) was the top loser, while Dr Reddy’s was the top gainer (up 2%) on Sensex

The benchmark indices on Monday opened lower as geopolitical worries simmered after US President dropped the ‘mother of all bombs’ on IS target in Afghanistan, while back home investors await the Wholesale Price Index (WPI)-based inflation data. 


At 09:17 am, the S&P BSE was ruling at 29,449, down 12 points, while the broader Nifty50 was trading at 9,149, down 0.85 points. 


In the broader market, the S&P BSE Midcap and S&P BSE Smallcap outperformed to gain 0.2% and 0.3%, respectively.  


“Going ahead, we need to keep a watch whether sustains above 9,200 levels or not. Once manages to sustain above 9,200 mark on closing basis, then we may witness up move rally towards 9,300-9,340 levels in coming trading session. Overall view is positive, hold the long positive with the trailing stoploss of 9,140,” said brokerage Nirmal Bang in a technical report. 

Sun Pharma (down 2%) was the top loser, while Dr Reddy’s was the top gainer (up 2%) on  


China’s Q1 GDP grows faster than expected


China’s economy grew 6.9% in the first quarter from a year earlier, slightly faster than expected, supported by a government infrastructure spending spree and a frenzied housing market that is showing signs of overheating.


The strong reading should help underpin wobbly global financial but adds to worries that China’s government is still relying too heavily on stimulus and “old economy” growth drivers and is not doing enough to tackle risks from an explosive build-up in debt.



are expected to remain focused on US data and its possible impact on the pace of interest rate hikes, and concerns over North Korea and the French presidential election.


dropped more than expected in March while annual core inflation slowed to 2% the smallest advance since November 2015, from 2.2% in February, data showed on Friday.


Global markets


MSCI’s broadest index of Asia-Pacific shares outside Japan fell 0.2% in holiday-thinned trade, while Japan’s Nikkei shed 0.4%. Chinese were mostly lower after Q1 GDP data. The Shanghai Composite declined by 0.725 while the Shenzhen Composite fell 0.8%. 


Equity such as Hong Kong, Italy, France and the UK will remain closed on Monday on account of Easter holidays. 

image

SI Reporter

Business Standard

http://bsmedia.business-standard.com/_media/bs/wap/images/bs_logo_amp.png 177 22

LEAVE A REPLY

Please enter your comment!
Please enter your name here