16 Feb 2015
Nikkei rises above 18,000
FXStreet (Mumbai) - The Japanese benchmark equity index Nikkei advanced to end the day above 18,000 levels for the first time in more than seven years. The positive action on the Wall Street on Friday helped the Japanese equities gain strength.
The Nikkei advanced 91.41 points, or 0.51%, to end at 18,004.77, the first close above the 18,000 line since July 24, 2007. The markets saw early buying on positive action in the US and European stocks on Friday. But gains were capped to some extent by a weaker-than-expected Oct-Dec Japanese GDP data released just prior to the opening bell.
Megabank groups enjoyed handsome gains, Mitsubishi UFJ and Sumitomo Mitsui both advanced more than 3%. Robot-maker Fanuc surged 3.42% on news that it will build a plant to boost production of numerically controlled equipment. On the other hand, technology giants Sony and Hitachi and automakers Mazda and Fuji Heavy Industries dropped.
Nikkei Technical Levels
The immediate support is seen at 17,914.55, under which losses could be extended to 17,850 levels. On the flip side, resistance is seen at 18,030 and 18,074.25 levels.
The Nikkei advanced 91.41 points, or 0.51%, to end at 18,004.77, the first close above the 18,000 line since July 24, 2007. The markets saw early buying on positive action in the US and European stocks on Friday. But gains were capped to some extent by a weaker-than-expected Oct-Dec Japanese GDP data released just prior to the opening bell.
Megabank groups enjoyed handsome gains, Mitsubishi UFJ and Sumitomo Mitsui both advanced more than 3%. Robot-maker Fanuc surged 3.42% on news that it will build a plant to boost production of numerically controlled equipment. On the other hand, technology giants Sony and Hitachi and automakers Mazda and Fuji Heavy Industries dropped.
Nikkei Technical Levels
The immediate support is seen at 17,914.55, under which losses could be extended to 17,850 levels. On the flip side, resistance is seen at 18,030 and 18,074.25 levels.