For Thursday 25 February 2021,
Lets first study…..
Today Morning Trend at Asian Markets :
Stocks in Asia-Pacific rose in Thursday trade after the Dow Jones Industrial Average surged to a record closing high overnight.
In Japan, the Nikkei 225 jumped 1.61% as shares of conglomerate Softbank Group surged more than 4%. The Topix index also gained 1.41%.
South Korea’s Kospi rose 2.06% as shares of chipmaker SK Hynix soared more than 6%. The S&P/ASX 200 in Australia gained 0.94%.
Mainland Chinese stocks were higher as the Shanghai composite gained about 0.6% while the Shenzhen component advanced 0.486%. The Hang Seng index in Hong Kong rose 0.62%.
MSCI’s broadest index of Asia-Pacific shares outside Japan traded 0.94% higher.
On the earnings front, Standard Chartered is expected to report its 2020 earnings around 12:15 p.m. HK/SIN on Thursday. On Tuesday, HSBC reported full-year earnings that beat expectations and announced a dividend payout for the first time since the Covid-19 pandemic.
US Markets,last Night
Tech stocks put pressure on the broader market on Wednesday amid a jump in Treasury yields, while investors continued to piled into names sensitive to an economic comeback.
The Dow Jones Industrial Average traded 50 points higher after falling more than 100 points. The biggest gainers in the blue-chip Dow were energy, industrials and financials, including Boeing, Goldman Sachs, Chevron and Caterpillar. The S&P 500 rose just 0.1%.
The tech-heavy Nasdaq Composite fell 1% as Apple, Microsoft and Amazon all slid more than 1%. Technology stocks sold off as the 10-year Treasury yield topped 1.4% to hit its highest level since February 2020. Higher interest rates could prompt investors to rotate out of high-flyers and into bonds, while they could hamstring growth companies, which benefited from the low-rate environment.
Yields jumped higher even after Federal Reserve Chair Jerome Powell said in a congressional hearing Tuesday that inflation was “soft” and that the U.S. economy was “a long way from our employment and inflation goals.”
Powell’s visit to Capitol Hill will continue when he addresses the House of Representatives Financial Services Committee Wednesday.
“Volatility along the way is to be expected, and higher rates will continue to drive more risk down into sectors and factors, but … dips in the equity market are meant to be bought in this environment,” Christopher Metli, a quantitative and derivative strategist at Morgan Stanley, said in a note.
The stock market staged a big intraday comeback in the previous session after the Fed chief’s remarks eased some of the concerns about a pickup in price pressures as well as rising rates. The Dow and S&P 500 erased sharp losses to finish modestly higher. The Nasdaq Composite, which was down nearly 4% at one point, finished with a loss of just 0.5%.
On Thursday, In Indian Stock Market, Nifty is expected to show strong positive opening and uptrend will be seen. Bank Nifty and Bank stocks are expected to show positive trend at the opening bell and then will continue strong rally.
Nifty & Bank Nifty Calls by Mr. Deepak Jasani
Head of Retail Research, HDFC Securities
Indian equity benchmark indices witnessed a session marred by a technical outage that disrupted trading on the NSE for nearly four hours. The Nifty opened flat and rose in early trade. The NSE shut trading in its cash and derivative segments at 1140 Hrs, citing “issues” with telecom links of its two service providers, which it said impacted the system and stopped prices from updating. Trading resumed on the NSE at 1545 Hrs and indices rose sharply post the second opening due to square off/shifting activities across exchanges. BSE continued to have normal trading in all segments through the extended day. The trading time on both the exchanges has been extended to 5 P.M.
At close the NSE Nifty 50 index gained 1.9% to end near the mark of 15,000 at 14,982. Volumes on the NSE were expectedly lower than the recent average. However volumes on the BSE at Rs.40700 cr were the highest since March 2017, due to diversion of trades to that exchange. Among sectors, Banks, Media, Metals and Realty indices gained the most. Broader markets also ended with gains but underperformed the benchmark indices.
Shares fell Wednesday in Asia as investors weighed the possibility that inflation might prompt central banks to adjust their ultra-low interest rate policies. Also the recent climb in US bond yields put high valuations of growth stocks under pressure. The worst hit was the Hong Kong Hang Seng, registering a fall of 3%. Investors hit sell after the city said it would raise stamp duty tax on share transactions from 0.1% to 0.13%. European shares opened generally flat to higher on Wednesday after Fed Chair Jerome Powell pushed back against inflation fears. Revised data showed German gross domestic product for the fourth quarter rose an adjusted 0.3% from the prior quarter, which was above a preliminary estimate of 0.1% and above expectations for 0.1%
Nifty has bounced up well after the 5 day fall seen recently. Although this rise is to be seen in the backdrop of the widespread weakness across Asia, the momentum in the indices could take the Nifty up to 15039-15132 band in the near term. However for the time being it seems as a correction of the recent fall and not a new uptrend.
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