By Aditya Raghunath
Investing.com -- Nifty 50 and the BSE Sensex 30 are likely to have a gap up opening today despite grim news from US markets. Nifty 50 Futures in Singapore are trading up 0.35% which indicates a green opening for markets in India.
However, markets will take into account the fact that the US job data reported addition of just 235,000 jobs in August compared to an estimate of 750,000. On one side, this will ensure that interest rates will stay down for longer and tapering might be pushed away but it also raises concerns on inflation and growth. US markets are shut today on account of Labor Day.
Will they, won’t they? Foreign institutional investors (FIIs) have been net buyers of Indian equities for the three trading days in September after selling all the way from April to August. Will they continue to buy or will they reverse their strategies?
Reliance Industries Ltd (NS: RELI ) buoyed the markets on Friday, moving up 4.15%. There are several triggers left in India’s largest company, and any one of them could propel the markets even higher.
Add Chart to Comment
We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:
- Enrich the conversation
- Stay focused and on track. Only post material that’s relevant to the topic being discussed.
- Be respectful. Even negative opinions can be framed positively and diplomatically.
- Use standard writing style. Include punctuation and upper and lower cases.
- NOTE: Spam and/or promotional messages and links within a comment will be removed
- Avoid profanity, slander or personal attacks directed at an author or another user.
- Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
- Only English comments will be allowed.
Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.
brief and good oneLike 0