Chart: Dow hits new 5-year high, will Nifty follow suit?

Dow Jones Industrial Average hit a five-year high to close at 14,296 on Wednesday, topping its previous high of 14,164 made in October, 2007. The US market was hit severely by sub-prime crisis in late 2007, followed by financial melt down starting 2008 leading to several people losing their jobs.
  • Language
  • App
  • Subscriptions
  • Specials
  • Sign-In
  • Register
GeStepAhead Travelcafe
moneycontrol.com

Home » News » Markets » Market Edge

Mar 08, 2013, 10.38 AM | Source: Moneycontrol.com

Chart: Dow hits new 5-year high, will Nifty follow suit?

Dow Jones Industrial Average hit a five-year high to close at 14,296 on Wednesday, topping its previous high of 14,164 made in October, 2007. The US market was hit severely by sub-prime crisis in late 2007, followed by financial melt down starting 2008 leading to several people losing their jobs.

Like this story, share it with millions of investors on M3

Chart: Dow hits new 5-year high, will Nifty follow suit?

Dow Jones Industrial Average hit a five-year high to close at 14,296 on Wednesday, topping its previous high of 14,164 made in October, 2007. The US market was hit severely by sub-prime crisis in late 2007, followed by financial melt down starting 2008 leading to several people losing their jobs.

Post Your Comments

Share Cancel

Riken Mehta
Moneycontrol.com

The Dow Jones Industrial Average hit a five-year high to close at 14,296 on Wednesday, topping its previous high of 14,164 made in October, 2007. The US market was hit severely by sub-prime crisis in the late 2007. This was followed by a financial melt down that started in 2008 leading to several people losing their jobs. 

So have things turned around? In recent past, ADP (Automatic Data Processing Inc) data has consistently beaten the estimates, which suggests a revival in the job market in the last six months. A string of upbeat economic data from US has been a cause for rally in equities with traders anticipating recovery in the market despite still relatively high unemployment rate, says Jamal Mecklai.

As per US government data, private companies added 198,000 jobs in February, beating analyst estimates, indicating that the labour market is continuing to thaw. Economists had predicted the count by ADP and Moody's Analytics to show 170,000 new positions, reports CNBC.

As the chart below suggests, the Nifty has been moving in tandem with the US market. The outlook has turned cautious after the rather bruising sell-off, but analysts valuations have become reasonable and so should cushion further downside.

Ads by Google

Buy, Hold, Sell ? Hear it first on M3
Chart: Dow hits new 5-year high, will Nifty follow suit?

See all

Get started using your favorite social network

or

Login using moneycontrol ID

Username
Password

Need help logging in? Reset password.

Don´t have an account? Sign Up

Get started using your favorite social network

or

Simply sign up using this short form

* mandatory

UserName*

Username should be atleast 4 character

Password*

Password should be 8 or more characters,
atleast 1 number, 1 symbol & 1 upper case letter

Alert

Your Password should contain
  • 8 or more characters
  • At least 1 number
  • At least 1 symbol
  • At least 1 upper case letter
Confirm Password*
Email
Already have an account? Login