German DAX continued its strong rebound on Wednesday as traders waited to know the details of Fed’s taper plans. Easing tensions on the solvency crisis at China Evergrande also helped restore sentiment.
The forty-scrip index is currently trading at 15440.45 up 0.64 percent over previous close. The day’s trading has been within the range of 15380.18- 15486.86.
At current levels, the DAX is 3.67 percent lower than the 52-week high of 16028.60.
Daimler is the lead performer with a gain of 2.65 percent closely followed by Deutsche Bank that has gained 2.59 percent. Siemens Energy has gained 2.50 percent.
Online fashion and lifestyle retailer Zalando continued yesterday’s decline to shed 2.65 percent and remained the worst performing scrip in the index in Wednesday’s trading. Online meal-kit provider HelloFresh followed with a price drop of 2.19 percent. Siemens Healthineers shed 1.86 percent.
Deutsche Post is topping the volume charts with a turnover of 0.7 million euros.
15 scrips in the 40-scrip index are declining from previous day’s levels.
In the DAX super sector indices, Consumer Goods is higher by 1.18 percent over previous day, closely followed by Industrials with a gain of 0.95 percent. Information Technology is down 0.93 percent over previous day’s levels.
The EURUSD pair is currently at 1.1731 versus 1.1723 on previous day. The day’s range has been between 1.1717 and 1.1740.
The ten-year bund yield is at -0.3155 percent versus -0.3280 percent on previous day, amidst anxieties ahead of release of the U.S. Fed’s tapering timeline.
Market Analysis
DAX Strong Ahead Of Fed Outcome
2021-09-22 11:01:26
