In today’s trading the S&P BSE Sensex was trading on the positive side. The major gainers so far in today’s trade are Coal India, BHEL, ONGC and Sesa Sterlite. It looks like the public sector companies are still holding trust among investors. However, some market observers believe that the better mood may disappear as they expect that the trade is expected to turn choppy.
Indian Stocks Up on the First Trading Day of 2014
It has to be remembered that the global markets are closed today and there is not much that can help Indian stock trading today regarding to know the state of the global stock market. In today’s trading the 50-share Nifty index was trading close to its crucial psychological level of 6300 and in early morning the 30-share index was at 21,194.80 which are slightly up from the yesterday’s trade.
Increased American Consumers’ Optimism Helping the U.S. Economy
The recent employment data coming from the U.S. indicates that American consumers have turned more confident and this is helping the national economy which is visible from the data compiled by the Conference Board. The Conference Board said that its sentiment index climbed to 78.1 from 72 in November; thus, it has exceeded the median forecast of earlier surveys.
The sources say that it is the strongest year-end reading since 2007 and visible from the other reports that also show home prices are climbing at the fastest pace in more than seven years. Even there were some concerns on the real estate boom. A similar pattern is being seen in the manufacturing sector which is gaining a sustained expansion.
U.S. Stocks Up, Investors Hope for a Better 2014
The year 2013 brought in mixed output for the U.S. economy wherein it improved to great extent towards the end of the year. There was a better economic indicator when U.S. stocks rose, with the Standard & Poor’s 500 Index poised for its biggest annual advance since 1997. The impetus was from the fact that the national GDP of the U.S. improved and fared better than expected.
The overall better mood among consumers is prompting companies from Ford Motor Co. to Apple Inc. to pledge to expand operations in the U.S. All expectations are that as demand improves in 2014, the world’s biggest economy will strengthen in core areas. The dependency on the gulf oil has decreased to a great extent now.
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