Market last week gained by 2.5% despite USDINR hitting 1-yr high and Brent crude crossing 7-yr high on back of easy liquidity measures by central banks. After Friday’s up move, the Sensex in USD terms has re-tested its September highs and markets are likely to face resistance around 18,500-18,600 in the coming week. With Brent crude positioned for hitting USD 110 a bbl and USDINR about 80, we can expect upside momentum in Nifty to get stalled around 18,666 levels with major breakdown placed 3% for Nifty in USD terms.
U.S Futures trade flat following a positive close for spot on Friday. The Dow Jones Industrial Average rose 382.2 points, or 1.09%, to 35,294.76, the S&P 500 gained 33.11 points, or 0.75%, to 4,471.37 and the Nasdaq Composite added 73.91 points, or 0.5%, to 14,897.34. The SGX Nifty is indicating a positive start of 69 pts.
Stocks in news
Sunteck Realty to buy 110 acres river front land near Mumbai.
TataPower eyes USD 500 m for green Unit.
PNB Housing shelves share sale plan.
HDFCBank and DMart Q2 results in line with expectations.
Godrej Consumer in focus- Sudhir Sitapati takes over as MD and CEO w.e.f today.
Embassy Group assets to merge with Indiabulls Real Estate.
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