Asian equities were mixed on Monday, after an uninspiring handover from Wall Street last week. U.S. stocks ended the week mixed in below-average trade volume after news of fresh conflict in Eastern Europe. The Dow Jones Industrial Average lost 0.3 percent while the S&P 500 shaved losses to close little changed. The Nasdaq reversed declines to gain 0.3 percent last Friday. The CBOE Volatility Index (VIX), widely considered the best gauge of fear in the market, rose more than 8 percent to trade near 13.49. But the indicator was down 17 percent for the week, the largest weekly loss in 4 months. In Ukraine, Kiev claimed on Sunday that its army had advanced into the eastern city of Lugansk, marking a breakthrough in a four-month-long campaign against separatists backed by Russia. The White House on Sunday said President Barack Obama had authorized U.S. air strikes in Iraq to help retake control of the Mosul Dam and that the action was consistent with his goal of protecting U.S. citizens in that country. NIKKEI: 15329.56 (+0.07%) HSI: 24879.96 (-0.30%) ASX 200: 5569.70 (+0.06%) SHANGHAI: 2231.98 (+0.24%) KOSPI: 2053.99 (-0.45%) CNBC 100: 7482.88 (-0.17%) SGXNIFTY: 7780.00 (-0.22%) Domestic markets expected to open lower after long weekend. Nifty expected to have opening around 7770-7760 levels which are close to support. It will be interesting to see that will Nifty hold the opening levels for recovery or further downside. We expected some recovery in market after weak opening with expected support around 7750-7740 and resistance around 7800. If Nifty violates 7740 in downside, it may trade around 7720-7700. According to Thursdays Institutional and Options data, trend looks quite positive after buying in Index and Cash with selling in PEs in Options. Mostly 7700PE and 7800PE were sold on Thursday which expected to be covered in case of negative opening. Though later on recovery possible from lower levels.
Posted on: Mon, 18 Aug 2014 03:30:20 +0000
Recently Viewed Topics
© 2015