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6 Feb 2015
Nikkei rebounds, Nisshin Steel gains 18%
FXStreet (Mumbai) - The Japanese equities index opened with a sharp positive gap of 192 points, and remained lifted with the overnight gains on Wall Street and higher crude oil prices soothing the markets.
The benchmark Nikkei 225 index gained 0.84% and trades at 17651 levels, retreating from day’s high posted at 17700.67 levels. The index remained in green as stabilizing oil prices pushed the energy stock higher. However, a slightly stronger yen capped the upside.
The index breadth traded positive with an advance-decline ratio of 154:63. Nisshin Steel Co is the top gainer, up 17.98% after the company raised its profit forecast. Nitto Boseki Co was up close to 9.69%. Among the top losers, Taiyo Yuden declined by -11.21%, while Nikon Corp tumbled -5.61% after cutting its net-income forecast.
Nikkei Technical Levels
The index has an immediate resistance stands at 17800 above which gains could be extended to 17914 levels. Meanwhile, support is seen at 17450 levels and from here to 17330 levels.
The benchmark Nikkei 225 index gained 0.84% and trades at 17651 levels, retreating from day’s high posted at 17700.67 levels. The index remained in green as stabilizing oil prices pushed the energy stock higher. However, a slightly stronger yen capped the upside.
The index breadth traded positive with an advance-decline ratio of 154:63. Nisshin Steel Co is the top gainer, up 17.98% after the company raised its profit forecast. Nitto Boseki Co was up close to 9.69%. Among the top losers, Taiyo Yuden declined by -11.21%, while Nikon Corp tumbled -5.61% after cutting its net-income forecast.
Nikkei Technical Levels
The index has an immediate resistance stands at 17800 above which gains could be extended to 17914 levels. Meanwhile, support is seen at 17450 levels and from here to 17330 levels.