View Full Version : Nifty to Open Gap Up Due to Strong Buying In American Markets

06-30-2016, 06:28 AM
The global markets are holding strong even after the BREXIT. The concerns whether the Article 50 would be triggered, which would officially confirm if Britain leaves the EU. Once the U.K. summons Article 50, it will initiate formal negotiations with the European Union to leave the European bloc, a process which is expected to take a minimum of two years. The Emerging market pack has been showing exceptional strength including Nifty. Goldman Sachs, CITI bank, Bank of America and Morgan stanely have announced share buy backs along with a boost in dividends which has pulled the markets upward.

Nifty (https://www.dynamiclevels.com/en/nifty-share-price) is expected to open 60 points gap up at 8264, as per SGX (https://www.dynamiclevels.com/en/sgx-nifty-future-index) at 8:15 am IST. Asian markets have been showing strength even after the Britain votes to exit. The Hangseng and Shanghai have risen 3.69% and 4.5% respectively from Friday's low. The Indian markets are also expected to reflect this strength. The markets have rallied on the back drop of a combined shares buy back worth $26bn by top American banks. The list includes American Express, JPMORGAN CHASE, MORGAN STANELY, BANK OF AMERICA, CITI and GOLDMAN SACHS.