Tuesday, June 1, 2010

Indian stocks are likely to open positive today.

Indian stocks are likely to open positive today. SGX Nifty is trading higher at 4957, up by about 17 points than previous closing.
Euro slipped closer to a four-year low against the dollar as expectations that slowing growth in China and the euro zone would hamper the global economic recovery hit risky assets.
In the US markets, the Dow shed more than 100 points after a late selloff in trade. After an extended weekend, markets opened trade on a weak note dragged down by worries about the state of finances in Europe and concerns about global growth with weaker-than-expected monthly manufacturing data from China. However, the market chose to ignore some positive economic data in the form of the manufacturing and construction activity.
Asian markets were trading mixed. China's Shanghai Composite was down 0.69% or 17.78 points at 2,550.50. Hong Kong's Hang Seng added 0.79% or 154.60 points at 19,651.55. Japan's Nikkei rose 0.39% or 37.97 points at 9,749.80. Singapore's Straits Times was up 0.51% or 13.91 points at 2,729.35. Taiwan's Taiwan Weighted fell 0.32% or 23.06 points at 7,266.27.

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