NDPMS Wealth Management

Nik's Diary The Indian markets opened flat to positive tracking flat in SGX Nifty while the other Asian markets are trading positive. US markets ended Thursday's trading mostly higher, partly offsetting the weakness  that was seen in the previous session. The strength on Wall Street came on the heels of the release of a batch of economic data that was though weaker than expected but was not bad enough to raise serious concerns about the economic outlook. Report released by the Labor Department showed that initial jobless claims  climbed to 354,000 in the week ended May 25th from the previous week's revised figure of 344,000. A separate report from commerce department said that GDP increased at an annual rate of 2.4%in the first quarter compared to the previously reported 2.5% growth. The European markets pared their gains in the afternoon impacted by the unexpected downward revision of the U.S. GDP, but largely finished in the green on Thursday. Meanwhile, Indian shar...

Nik's Diary The Indian markets opened flat to negative tracking negative opening in most of the Asian markets and SGX Nifty.US markets were under pressure in early trading on Wednesday and stocks remained firmly in negative territory throughout the session. Renewed concerns about the outlook for the Federal Reserve's stimulus program weighed on the markets. The major averages ended the day in the red but well off their lows for the session. Meanwhile the European markets ended Wednesday's session solidly in negative territory, reversing the gains of the previous session. The strong housing and consumer confidence data released by the U.S. yesterday gave rise to concerns that the Federal Reserve may scale down the stimulus program in the coming months. Meanwhile, Indian shares fell modestly on Wednesday as investors took some profits off the table following three days of gains, awaiting the expiry of near month F&O contracts on Thursday and the release of March-qua...

Nik's Diary  The Indian markets opened flat tracking marginally negative opening in most of the Asian markets and SGX Nifty. US markets pulled back off after moving sharply higher in early trading but managed to end the day in positive territory. The positive sentiment was led by release of the report from the Conference Board which reported surge in consumer confidence index to 76.2 in May (five-year high) from an upwardly revised 69.0 in April. The pullback off the highs may have reflected lingering concerns about the outlook for the Federal Reserve's asset purchase program, as Fed officials have indicated that upbeat data may lead the central bank to taper the program within the next few meetings. European markets ended the day in green reacting positively to the release of better than expected U.S. economic data. Meanwhile, Indian shares ended higher for a third consecutive session on Tuesday following the firm global cues. Adding to the positive sentiment, Prime Min...

Nik's Diary The Indian markets opened flat to positive tracking marginally positive opening in most of the Asian markets and the flat opening of SGX Nifty. US markets were closed yesterday owing to Memorial Day holiday. Nevertheless, The European markets ended the day higher on Monday, after markets in Asia closed mixed amid uncertainties about whether the Federal Reserve would scale down its bond purchase program. Volumes were thin amid the Spring Bank holiday for the UK market and the Memorial Day in the U.S. Meanwhile Indian markets ended higher on Monday and the benchmark Sensex jumped 326 points as investors cheered falling crude oil price and placed renewed faith in the US Federal Reserve continuing with its monetary stimulus. RIL led the rally gaining more than 5% after the company announced a discovery in the D6 block in KG Basin post-market hours on Friday.

Nik's Diary The Indian markets opened flat to negative tracking negative opening in most of the Asian markets owing to concerns about the outlook for the Federal Reserve's asset purchase program.US markets recovered from an early decline and ended in positive territory on Friday. The markets recovered after the release of a report from the Commerce Department that showed a larger-than-expected rebound in durable goods orders  which surged by 3.3% in April after tumbling by a revised 5.9% in March. However, amidst an impending recovery in manufacturing activity following a recent pullback, the data added to worries that the Fed will taper its stimulus in the near future. Nevertheless, European markets ended the day lower, thereby extending the weakness from the previous day. Meanwhile Indian markets ended higher on Friday, as sentiments improved a bit after two senior U.S. central bankers said that the Fed is in no hurry to start winding down its bond-buying program and po...