US Job Numbers, FII Money, RIL Triggers: What’ll Affect Markets Today

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US Job Numbers, FII Money, RIL Triggers: What’ll Affect Markets Today

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.

Asian markets are all trading up as of this report. Nikkei 225 is up 1.63%, KOSPI 50 is up less than 0.1% and the Shanghai Composite is up 0.5%.

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  • Venkat Raman @Venkat Raman
    brief and good one
    Like 0

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