11 Jun 2017
Improving European grwoth prospects
Equities remain in demand as European growth prospects improve and markets accept continued withdrawal of stimulus in the US. Indian markets are range-bound near all-time peaks supported by foreign and domestic buying. The Nifty 50 has added just 73 points to reach 9668, a gain of just 0.8% after trading in a range of 1.7%. Average daily trading volumes remained above the trailing average at $4.5bn as FPIs bought a net $48mil in cash equity and domestic institutions were net buyers of $170mil. Volatility stayed subdued as the India VIX traded in the 9 to 12 range before closi ng where it opened at 11. Breadth was narrow, with advances just ahead of declines by 5 to 4. The outlook seems for continued range trading as index futures closed at a premium of just above 0.5%.
Posted by #richardneve at 6/11/2017