Sensex up 126 points on Asian cues

Mumbai: Markets saw a positive start on Monday as the benchmark Sensex bounced by about 126 points, reversing its four-session losing streak, on the back of a firming trend at other Asian markets.

The 30-share barometer recovered 125.65 points, or 0.36 per cent, at 34,973.95. It had lost 708.41 points in the previous four sessions largely on political uncertainty in Karnataka.

PSU, banking, metal, IT capital goods and teck indices rose by up to 0.43 per cent.

The NSE Nifty moved up by 25.30 points, or 0.23 per cent, to 10,621.70.
Support came from TCS, SBI, ICICI Bank, Bharti Airtel, ONGC, L&T, Tata Steel, IndusInd Bank, Adani Ports, Yes Bank, Power Grid, NTPC and HDFC Bank, which climbed by up to 2.05 per cent.

Meanwhile, foreign portfolio investors (FPIs) net sold shares worth Rs 166.15 crore, while domestic institutional investors (DIIs) bought equities to the tune of Rs 149.58 crore on Friday, as per provisional data.

On the domestic front, the political slugfest in Karnataka culminated with the BJP’s B S Yeddyurappa quitting minutes before he was to face a floor test to prove his contested majority in the hung assembly. The JD(S)-Congress combine, led by the regional party’s chief H D Kumaraswamy, is set to form the government in the state. 

Asian markets were higher in early trade. Hong Kong’s Hang Seng was up 1.21 per cent while Japan’s Nikkei rose 0.49 per cent. Shanghai Composite too was up 0.64 per cent.

The US Dow Jones Industrial Average ended flat on Friday.

Read More Here...

Stock futures soar as tariff dispute “put on hold”

Will the stock market stay volatile?

IHT Wealth Management President Steve Dudash and Benchmark Investments managing partner Kevin Kelly discuss what’s holding the stock market back and how consumers are impacting the market.

U.S. stock futures gained after Treasury Secretary Steven Mnuchin said on Sunday that the United States and China had agreed put their tariff skirmishing “on hold” to work on a wider trade agreement.

Continue Reading Below

Dow Jones futures were poised for a triple-digit gain, rising 0.85%. The S&P 500 added 0.62% and the Nasdaq Composite was up 0.84%.

U.S. stocks posted weekly losses on concerns around global trade policies and interest rates limited investors’ appetite for risk.

In Friday’s session, the Dow Jones Industrial Average edged up 1.1 point, or less than 0.1%, to 24715.09. The S&P 500 declined 7.16 points, or 0.3%, to 2712.97 while the Nasdaq Composite lost 28.13 points, or 0.4%, to 7354.34.

Ticker Security Last Change %Chg I:DJI DOW JONES AVERAGES 24715.09 +1.11 +0.00% SP500 S&P 500 2712.97 -7.16 -0.26% I:COMP NASDAQ COMPOSITE INDEX 7354.3388 -28.13 -0.38%

For the week, the Dow industrials fell 0.5%, while the S&P 500 lost 0.5% and the Nasdaq shed 0.7%–snapping a two-week winning streak.

In Asia, China and Hong Kong stocks extended their rally on Monday,

China’s Shanghai Composite gained 0.8%.

Hong Kong’s Hang Seng  rallied 1.3%

Japan’s Nikkei advanced 0.4%.

In Europe, Germany’s DAX will be closed Monday for a holiday.

Read More Here...

Asian markets higher as US, China put trade war on hold

SEOUL, South Korea (AP) — Asian stock markets were higher on Monday as investors cheered the outcome of negotiations between the United States and China that put a trade war on hold, clearing uncertainty.

KEEPING SCORE: Japan’s Nikkei 225 rose 0.5 percent to 23,042.54. Hong Kong’s Hang Seng jumped 1.2 percent to 31,423.99, while Shanghai Composite Index advanced 0.8 percent to 3,217.93. South Korea’s Kospi added 0.3 percent to 2,467.36. Australia’s S&P/ASX 200 inched down 0.1 percent to 6,081.10. Stocks in Southeast Asia were mostly higher.

TRADE TALKS: The U.S. and China concluded their two days of trade negotiations with an agreement not to impose tariffs on each other, pulling back from the brink of a trade war. Treasury Secretary Steven Mnuchin said the two countries have made “meaningful progress” and that the U.S. has agreed to put on hold proposed tariffs on up to $150 billion in Chinese products. China said it will “significantly increase” its purchase of American goods and services.

ANALYST’S TAKE: “This is likely to send Asian markets higher as risk sentiment was somewhat subdued on Friday when markets stayed cautious amid China and the U.S. trade talks,” Mizuho Bank said in a daily commentary.

Most Read Business Stories Unlimited Digital Access: $1 for 4 weeks

WALL STREET: U.S. stocks finished mixed on Friday. The S&P 500 index fell 0.3 percent to 2,712.97. The Dow Jones industrial average gained 1.11 points to 24,715.09. The Nasdaq composite lost 0.4 percent to 7,354.34. The Russell 2000 index of smaller-company stocks rose 0.1 percent to 1,626.63.

OIL: Benchmark U.S. crude oil rose 55 cents to $71.83 per barrel in electronic trading on the New York Mercantile Exchange. In the previous session, the contract finished at $71.28 a barrel, down 21 cents. Brent crude, used to price international oil,

Read More Here...