Nifty to open on positive note, gain 35 points: Dynamic Levels

Dynamic Levels' Market Outlook:

Chinese President Xi Jinping discussed plans to further open up the Chinese economy during a Tuesday address. Those measures included "significantly" lowering import tariffs for autos and other products, enforcing the legal intellectual property of foreign firms, and improving the investment environment for  international companies.

Yesterday, Russian firms and rouble was hit heavily by Trump sanctions. The Trump administration’s new sanctions on Russian oligarchs and top government officials began to bite on Monday as the rouble suffered its biggest daily fall in more than three years, the main Russian stock index slumped and investors dumped shares in businesses controlled by Oleg Deripaska.

Russia’s currency briefly dipped more than 4 percent before recovering slightly to trade at 60.42 to the dollar on Monday evening, down 3.8 percent, its biggest daily percentage fall since January 2015. The Russian stock market also fell heavily. The main RTS index dropped 11 percent, affecting companies not caught by the sanctions.

China is evaluating the potential impact of gradual Yuan depreciation, people familiar with the matter said, as the country’s leaders weigh their options in a trade spat with US President Donald Trump that has roiled financial markets worldwide.

Yesterday, the Indian benchmark index Nifty closed at 10379 rose by 0.46 percent. The Nifty index made a high of 10398 and made low of 10329. In the current expiry, FII and PRO in combined have bought 96001 contracts in Index Options.

Small cap index closed at 8216 last day after making low of 8199 and high of 8264.

Nifty Future is opening gap up by 35 points against yesterday’s close of 10392 as indicated by SGX Nifty which is currently trading at 10428.

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