Wednesday, 4 January 2017

Indian benchmark indices may open up tracking global cues

Indian benchmark indices are likely to open up tracking positive global cues. SGX Nifty at the time of writing this story was up 13 points at 8204.00. 

Indian benchmark indices are likely to open up tracking positive global cues. SGX Nifty at the time of writing this story was up 13 points at 8204.00.

Japanese shares up more than 1 percent on Wednesday morning as the yen weakened against a stronger dollar, and after a private survey suggested the manufacturing sector might be recovering.

The Nikkei 225 leaped up 1.73 percent while the Topix bounced up 1.83 percent, likely due to expectations of a weaker yen after the greenback hit a 14-year high overnight against a basket of currencies.

Earlier, Toshiba plunged as low as 6.9 percent to 263.5 yen each share at the open, after media reports that a Japan watchdog suspects the company padded profits by 40 billion yen in the past three years, Reuters reported.

Stocks rose on Tuesday, the first trading day of 2017, but closed off their session highs as oil prices gave back initial gains.

The S&P 500 closed about 0.8 percent higher, with telecommunications and health care leading advancers. The Nasdaq composite also advanced around 0.8 percent.

The pan-European Stoxx 600 ended up 0.7 percent with most sectors and bourses trading in positive territory. The UK's FTSE100 touched a record high in early afternoon trade, however, it retreated slightly to close up 0.49 percent on Tuesday. The French CAC ended 0.35 percent higher while the German DAX finished 0.12 percent in negative territory.
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