Asian stocks were mostly higher on Friday after Chinas economy grew at its fastest pace this year but gains were capped investors remained skeptical whether the economic recovery was sustainable. The Shanghai Composite rose 0.3 percent, while Australias S&P ASX 200 hit a new five-year high and South Koreas Kospi was steady around 2,040 points. But Japans Nikkei bucked the trend to trade in negative territory due to a strong yen. Overnight in USA, Stocks staged an impressive recovery Thursday, with the S&P 500 setting a fresh high and the Dow erasing a triple-digit loss to finish near the flatline. The Dow Jones Industrial Average closed down just 2.18 points to close at 15,371.65, pulling off a stunning comeback after being down sharply for most of the day. NIKKEI: 14578.30 (-0.06%) HSI: 23253.66 (+0.69%) ASX 200: 5320.90 (+0.72%) SHANGHAI: 2193.71 (+0.24%) KOSPI: 2043.09 (+0.12%) CNBC 100: 7385.26 (+0.25%) SGXNIFTY: 6105.0 (+0.58%) With positive Asian markets trend, our markets expected to open positive. Todays session expected to trade with positive bias with expected support in 6020-5980 range. In upside, NIFTY may again feel hurdle around 6120 and then at 6150. After previous day selling, minor short covering expected in market. Considering the 5980-6150 range, NIFTY still range bound and traders suggested to follow the range to trade unless any side doesnt break. Results Today from Index Base Stock: L&T (Around 12 PM)
Posted on: Fri, 18 Oct 2013 03:18:08 +0000
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