Daily Market Report (16 April 2021)
Daily Market Report (16 April 2021)

Daily Market Report (16 April 2021)

  • It was another record breaking day on Wall Street buoyed by solid corporate earnings and improved economic data.
  • The DJI Average surged by 300 points to close above the 34,000 mark whilst the S&P 500 closed 46 points higher at 4,170.
  • Meanwhile the US 10- year yield declined to below the 1.6%.
  • In view of this, we believe regional markets to see a broadly improved performance today.
  • As for the local bourse, we noticed late buying on index linked stocks had been rather apparent the last few days hence expect the index to be well supported at the 1,600 level.
  • As for today, we anticipate the benchmark index to possibly trend between the 1,600-1,610 range.
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