The market was close to get collapsed yesterday when the share prices were drastically falling with every passing seconds. The effect of the volatile market worldwide along with China’s sudden initiative of selling their gold reserve indeed had been seemingly disparaging for the Indian market as well. However, on the wake of the Tuesday’s share market, Sensex and Nifty has showed a glimpse of profit, though volatility is looming everywhere in the world market. Sources reveal that Indian market was opened higher today, following a recovery of the Asian stock market
Indian markets opened higher today, tracking a recovery in Asian stock markets. The rupee, which pulled back from two-year lows against the US dollar, also come up with the slight gains as the market opens today.
As the market shows the apparent signs of gains, here we are all set to look into the latest developments in the market.
The BSE Sensex, which had experienced the biggest point crash as the market opens on Monday, today it had witnessed rise by 380 points as the trade opens. On the other hand the Nifty advanced 116 points and rise to 7,900. However, the market pared some gains as the session progressed. At 10.09 a.m., Sensex showed a fast rise by 200 points reaching at 25,938 while Nifty rose 58 points to reach 7,867.
2) In terms of dollar- rupee equivalence, after gaining 25 paisa against the dollar, one dollar becomes equivalent to 66.19 rupees. It apparently indicates the weakness in the dollar index on Tuesday morning.
3) As soon as the Asian stock market sees the recovery in price, the domestic stock markets started showing the glimpse of gains.
4) Though Chinese shares opened 6% lower on Tuesday, the trading is recorded the lowest in the past three days. Over the last three days, China’s shares are lower by 15%. Needless to say, the recent crash of China’s stock markets has been highly instrumental for such a crisis worldwide.
5) Even the MSCI’s broadest index of Asia-Pacific shares rose to 1.7 per cent outside Japan, after it remained consecutively low for three-year. On the other hand, Japan’s Nikkei index has also managed to earn stability after the initial drop of 4.3 per cent.
6) US stock futures also earned a rise by 2 per cent, which indicates a good start for the Wall Street today. Following that even the Dow Jones industrial average slumped more than 1,000 points overnight. No doubt it’s incredibly dramatic.
7) In fact the massive purchase of the shares worth over Rs 4,000 crore yesterday by the domestic institutions wonderfully prevented the further slide in the market. If they continue to buy Indian equities, the Indian market will soon witness profit, though nothing can be done in the next day or two.
8) The recent unrest in the global market two weeks earlier however did not have any ar fetched effect in the emerging markets in India
However, there’s lot to learn about the global market so far. And to predict the market trend, the investors have to wait for next couple of days.
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