Daily Big Picture – MSP Hike Boosts Market Sentiment

Today’s Action:

Benchmark composites score good gains; broader indices underperform.

Daily Market Review:

After trading in a narrow range, frontline indices saw an increased buying interest following the Indian government’s decision to raise the minimum support price (MSP) for Kharif crops.

The Nifty and the Sensex ended with gains of 0.7% and 0.8%, respectively.  Continue reading “Daily Big Picture – MSP Hike Boosts Market Sentiment”

Daily Big Picture – Indian Market Rebounds Despite Trade War Tensions

Today’s Action:

Key indices bounce back from early losses; broader market outperforms.

Daily Market Review:

After a negative opening, benchmark indices traded firmly in the green on the back of strong global cues.

The upward movement was mainly on account of the speculation that the People Bank of China is prepared to take tougher action against the recent plunge in the yuan.

Following the news, major indices in Asian and European markets traded higher.

The U.S. Futures also gained on Tuesday despite a lingering worry about trade war between the U.S. and other major economies. On Monday, the U.S. government moved to block China Mobile for offering its services in the U.S., citing possible national security risks.  Continue reading “Daily Big Picture – Indian Market Rebounds Despite Trade War Tensions”