Global markets: Recovery mode? - Views on News from Equitymaster

Helping You Build Wealth With Honest Research
Since 1996. Try Now

  • MyStocks


Login Failure
(Please do not use this option on a public machine)
  Sign Up | Forgot Password?  

Global markets: Recovery mode?

Aug 30, 2003

US indices continued to gain ground during this week also. While the Dow was up by about 1%, the NASDAQ rose by about 3% during the week. Despite the weakness witnessed at the start of the week, markets regained strength as they build on gains for the remaining days of the week. Tuesday’s economic reports, on consumer durable goods order and consumer confidence, enthused investors, which was reflected by the gains on the indices. On Wednesday also, the NASDAQ gained ground on account of buying witnessed in technology stocks, however, the Dow lost marginally.

Markets continued to witness buying for the next two days (Thursday and Friday) also and this was again on account of better economic reports. On Thursday, economic reports indicating an upward revision in 2nd quarter GDP growth and signs of improving labor markets cheered investor sentiments on the US bourses. Friday’s positive economic news regarding regional manufacturing index and also higher consumer spending led to further gains on indices towards the closing session on Friday.

(Price in US $)23-Aug-0330-Aug-03Change
ICICI Bank9.09.78.1%
Dr. Reddy's24.325.44.3%
Satyam Infoway5.85.7-2.8%
HDFC Bank22.622.0-2.8%

Indian ADRs continued to gain ground during the current week. Technology stocks were among the top gainers. It must be noted that tech laden NASDAQ also rose during the week on account of buying in technology stocks. This was reflected in the software ADRs also. Top gainers included Wipro (16%), Satyam (9%) and Infosys (5%). ICICI Bank also gained ground during the week. The ADR is trading at its 52-week highs.

Hang Seng10,76110,9091.4%

As can be seen in the table above, Indian markets topped the charts this week when compared to global markets. Top gainers were BSE (3%), NASDAQ (3%) and Hang Seng (1%). Indian markets have witnessed a significant rally in the last four months on account of better results from Corporate India and also positive signs regarding the improving economy. While other Asian markets also continued to gain during the week, the European markets witnessed some pressure during the week and they closed in the red.

Markets globally have witnessed considerable run up during the past few months. Primary reason for this is the better than expected recovery in the world’s largest economy, the United States with strong 2nd quarter GDP growth and signs of improving labor markets. However, still there are no clear signs of a full-fledged recovery and one must exercise caution on this front.

Equitymaster requests your view! Post a comment on "Global markets: Recovery mode?". Click here!


More Views on News

BSE Sensex Surges 707 Points; BHARTI AIRTEL Among Top Gainers (Market Updates)

Sep 25, 2020 | Updated on Sep 25, 2020

The BSE Sensex Surged 707 Points; BHARTI AIRTEL Among Top Gainers. Find the latest update, special reports and news on all time high gainers of BSE Sensex at

Your Queries on the 8-Year Cycle Answered (Fast Profits Daily)

Sep 25, 2020

You've sent in your queries on my videos on the 8-year greed and fear cycle in the market. I'll answer them in this video.

It's When You Sell that Counts (Profit Hunter)

Sep 25, 2020

How I alerted readers to the impending crash last week.

Can the Nifty Fall to 10,200? (Fast Profits Daily)

Sep 24, 2020

The Nifty has reached an important support level today. If it breaks then we could see further downside.

How to Save Money by Exiting Stocks Before They Fall podcast (Views On News)

Sep 24, 2020

A penny saved is a penny earned. It doesn't matter where you enter. All that matter is where you exit. Watch this video to identify an opportune time to exit your investments and book profits.

More Views on News

Most Popular

Why We Picked This Small-cap Stock for Our Hidden Treasure Subscribers (Profit Hunter)

Sep 17, 2020

This leading household brand will profit big time in a post covid world.

My Top Stock to Buy in this Market Selloff (Profit Hunter)

Sep 22, 2020

The recent correction offers a great opportunity to buy this high conviction smallcap stock.

What Do the Charts Say About Buying Smallcaps Now? (Fast Profits Daily)

Sep 18, 2020

Everyone seems to be excited about buying smallcaps now...but is it the right thing to do? What do the charts tell us? Find out in this video...

How Much Money Do You Need to Be a Professional Trader? (Fast Profits Daily)

Sep 17, 2020

In this video I'll answer a question I get asked often: How much capital do I really need to trade the markets for a living? Let's find out...


Covid-19 Proof
Multibagger Stocks

Covid19 Proof Multibaggers
Get this special report, authored by Equitymaster's top analysts now!
We will never sell or rent your email id.
Please read our Terms


Sep 25, 2020 (Close)