Pre Session- Markets tipped for positive opening on Asian rebound
11/08/2014 08:13
The key domestic benchmarks are likely to witness a positive opening today tracking a rebound in Asian peers as a sharp slump in recent sessions offers bargain buying opportunity to investors in equities, at existing levels. Asian stocks rose sharply on Monday led by hefty gains in Japanese shares despite continued geopolitical risks. China’s Shanghai Composite and Hang Seng rose as inflation below target offered room for policymakers to inject fresh stimulus, if required, to spur growth in the world’s second biggest economy. China’s consumer prices rose 2.3 per cent in July 2014 from the same month a year ago, matching the pace set in June, but below the government’s 3.5 per cent target. Japan’s Nikkei 225 surged on strong corporate earnings.
On the domestic front, the Sensex may witness volatility in the holiday shortened-week as the last leg of Q1 numbers, macroeconomic data and global cues including geopolitical fears influence market movement. Markets will be closed on Friday on account of Independence Day. All eyes will be on the Consumer price and Wholesale price index, and industrial output data for June this week. Tata Motors, Tata Steel, Coal India, Oil India, IOC and ONGC are among the companies that will unveil their earnings this week. Investors will weigh events in Ukraine amid the renewed buildup of Russian troops across the border with Ukraine, events in Gaza and Iraq where the US has authorised airstrikes.
Top traded Volumes on NSE Nifty are Hindalco Industries Ltd. 9919821.00, Sesa Sterlite Ltd. 8824158.00, DLF Ltd. 7902174.00, IDFC Ltd. 7878573.00 and Tata Motors Ltd. 6422294.00.
11/08/2014 08:13
The key domestic benchmarks are likely to witness a positive opening today tracking a rebound in Asian peers as a sharp slump in recent sessions offers bargain buying opportunity to investors in equities, at existing levels. Asian stocks rose sharply on Monday led by hefty gains in Japanese shares despite continued geopolitical risks. China’s Shanghai Composite and Hang Seng rose as inflation below target offered room for policymakers to inject fresh stimulus, if required, to spur growth in the world’s second biggest economy. China’s consumer prices rose 2.3 per cent in July 2014 from the same month a year ago, matching the pace set in June, but below the government’s 3.5 per cent target. Japan’s Nikkei 225 surged on strong corporate earnings.
On the domestic front, the Sensex may witness volatility in the holiday shortened-week as the last leg of Q1 numbers, macroeconomic data and global cues including geopolitical fears influence market movement. Markets will be closed on Friday on account of Independence Day. All eyes will be on the Consumer price and Wholesale price index, and industrial output data for June this week. Tata Motors, Tata Steel, Coal India, Oil India, IOC and ONGC are among the companies that will unveil their earnings this week. Investors will weigh events in Ukraine amid the renewed buildup of Russian troops across the border with Ukraine, events in Gaza and Iraq where the US has authorised airstrikes.
Top traded Volumes on NSE Nifty are Hindalco Industries Ltd. 9919821.00, Sesa Sterlite Ltd. 8824158.00, DLF Ltd. 7902174.00, IDFC Ltd. 7878573.00 and Tata Motors Ltd. 6422294.00.
