Wednesday, 8 August 2018

Market Updates : Indices pare opening gains to turn flat, Nifty tests 11,400

Benchmark indices pared opening gains to turn flat amid lack of any major domestic cues. Globally, Asian shares, that rose on Wednesday on the back of firmer Wall Street earnings while expectations for increased Chinese stimulus helped take the edge off wider concerns about the worsening Sino-US trade dispute.

MSCI's broadest index of Asia-Pacific shares outside Japan gained 0.22 percent while Japan's Nikkei ticked up 0.05 percent.

On Wall Street, the S&P 500 rose 0.28 percent to 2,858, which is just 14 points, or about 0.5 percent, below its record high marked in January.

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A strong second-quarter earnings season fuelled optimism about US economic strength. S&P 500 firms saw a 23.5 percent rise in their April-June profits.

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