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| Stock Market News |
FII and DII Data
According to NSE (National Stock Exchange) Data Foreign Institutional Investor (FII) has done heavy selling of 1901.10 crore on 21st August. Domestic Institutional Investor (DII) has made the purchase worth Rs. 626.25.Gift Nifty
Nifty and Sensex are likely to open with slight gains on 22nd August, as gift nifty currently showing signs of trading with a gain of 15 points.
BSE Sensex closed at the 65216 level on August 21 with a gain of 267 points. Nifty50 closed at the 19393 level with a gain of 51 points. Nifty50 is currently trading around its 200 moving average and trying to maintain its bullish momentum.
According to the pivot calculator nifty can take support at 19322, 19292, and 19242 on 22nd August.
Nifty looking for resistance at upper levels of 19421, 19452, and 19502. Especially Nifty may face a dilemma in crossing the 19500 level.
US Market
US stock markets were trading flat on Monday night. S&P 500 and NASDAQ composite break 4th straight day of losses. Dow Jones futures were down 33 points, or 0.1%, while Nasdaq and S&P 500 futures were down 0. 01 % decline.
The Nasdaq Composite gained 1.6% in Monday's trading session. It was the Nasdaq Composite's biggest gainer of the month. The S&P 500 added close to 0.7 percent. Meanwhile, the Dow ticked down 0.1 percent.
Tech-heavy Nasdaq manages to post gains even as 10-year Treasury yield hits its highest level since November 2007. gaining about 9 basis points to trade at 4.34 percent. Rising Treasury yields don't bode well for tech stocks.
European Market
European market has been falling continuously for the last 6 weeks. But yesterday European markets closed with gains in Monday's trading session. The Pan European Index 600 closed with a slight gain of 0.1%.
Shares of auto companies rose by 1.1% while construction and materials companies stocks declined by 0.6%.
On Monday, there were some trends in the market from China as well. China's central bank cut its lending prime rate less than expected on Monday leaving its five-year rate unchanged. Economists had predicted that China would cut rates by 15 basis points due to the crisis in the property sector. Many economists believe that these steps reflect a lack of ambition. Going forward, China may have a tough time.
Asian Markets
Asia Pacific markets saw a boom, but rising US 10-year Treasury yields in Asian markets had no effect. US 10-year Treasury has reached the level of 4.34. Which is the highest since November 2007. A rise in the US 10-year Treasury is not considered good for stocks.
Japan's Nikkei 225 index closed up 0.86% and the Topix index 0.72. Chip unit of SoftBank Group has applied for listing on Nasdaq. South Korea’s Kospi also gained 0.88 percent, and the Kosdaq was 0.84 percent up. Australian S&P end/ASX 200 continues to fall. Hong Kong's Hang Seng index shows signs of some change.
