NDPMS Wealth Management

Nik's Diary The Indian market opened on a negative note following weak start to SGX Nifty and major Asian Indices amid concerns of the deepening Europe’s debt crisis and after decline in pending US home sales which are expected to dampen earnings prospects for Asian exporters. The US markets staged a significant recovery over the course of the trading day on Wednesday, after coming under pressure in early trading. The early weakness on Wall Street was partly due to profit taking, as some traders cashed on the recent strength witnessed in the markets. Most of the European bourses finished the trading session on Wednesday in the negative territory. The situation in Cyprus continues to weigh on investor sentiment and political developments in Italy added further pressure. In Italy, the political situation has become uncertain, after Pier Luigi Bersani has announced that he will not attempt to put together a coalition government. Meanwhile, Indian markets remained closed on Wedn...

Nik's Diary The Indian market opened in the red following negative start to SGX Nifty and major Asian Indices amid concerns that Cyprus’s bank restructuring plan will be used as a template for other European nations, imperiling bondholders and depositors. The US markets failed to sustain an early upward move and turned lower over the course of the trading day on Monday. The downturn came as traders digested news of a new bailout agreement for Cyprus and its potential ramifications for other debt plagued nations. The global markets reversed direction following comments made by Jeroen Dijsselbloem, the Dutch Finance Minister, who stated that the Cyprus deal could become a template for resolving euro zone banking problems going forward. As a part of the bailout package, Cyprus has secured a EUR10bn bailout from the European Union, the European Central Bank and the International Monetary Fund. The terms of the bailout call for major reforms of the Cypriot banking system, including...

Nik's Diary Indian markets open in the green, tracking positive opening trades in SGX Nifty and most of the Asian markets. The US markets witnessed upside during trading on Friday, benefited from optimism about the situation in Cyprus, although trading activity was relatively subdued. Some positive sentiment was generated by news that Cyprus managed to clinch a deal with Greece to spin off the Greek units of ailing Cypriot banks. European stocks were broadly lower after Standard & Poor's cut Cyprus' long-term foreign currency credit rating deeper into junk status, citing "acute problems" in its banking sector and rising risks of a default. Indian shares ended yet another volatile session lower on Friday, extending losses for the sixth straight session. There are increasing concerns about the fate of government's reforms and Cyprus' worries are keeping investors nervous. Traders are likely to keep an eye on a batch of key US economic data, includ...