Bull Run Continues On Dalal Street, Markets Hit New Highs

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JULY 27, 2018

Domestic stock markets opened at fresh record highs yet again on Friday. The Sensex opened at 37,253.86 while the Nifty50 at 11,232.75. ITC, Bajaj Auto, Kotak Mahindra Bank led Sensex’s gains.

In global markets, Asian stocks struggled to gain traction, following a mixed Wall Street finish and as the worsening Sino-US trade dispute kept investors in the region cautious, despite signs of rapprochement between the United States and Europe, according to a Reuters report.

MSCI’s broadest index of Asia-Pacific shares outside Japan dipped 0.1 per cent. The CSI300 of Chinese shares fell 0.5 per cent.

Japan’s Nikkei eked out a 0.1 per cent gain though it was capped by worries that the Bank of Japan could scale down its asset purchase at its upcoming policy review next week.

In overnight trade, A plunge in Facebook Inc’s shares pushed the Nasdaq down more than 1 per cent, the index’s biggest one-day drop in a month, but industrial stocks rose after the United States and the European Union said they would negotiate on trade.

The Dow Jones Industrial Average rose 112.97 points, or 0.44 per cent, to 25,527.07, the S&P 500 lost 8.63 points, or 0.30 per cent, to 2,837.44 and the Nasdaq Composite dropped 80.05 points, or 1.01 per cent, to 7,852.19.


Courtesy/Source: NDTV