Pre Session- Flat opening on the cards; SBI, ITC Q4 in focus
22/05/2015
Against the backdrop of caution ahead of the Q4 report cards of blue chips SBI and ITC and a mixed trend in fellow Asian peers, Dalal Street is tipped to witness a flattish opening on the last trading session of the week. Retreating from a one-month high, the Sensex shed 27.86 points or 0.10 per cent to finish at 27, 809.35 on Thursday as investors resorted to profit booking after poor Q4 numbers from the likes of Tata Steel renewed concerns over Asia’s third biggest economy, overshadowing optimism over an interest rate cut by the Reserve Bank of India (RBI) next month. The country’s largest public sector bank, the State Bank of India, and FMCG major ITC will be in focus as they unveil their March quarter earnings.
Weakness in the SGX CNX Nifty Index futures for May delivery which fell 0.08 per cent to 8,403.50 at 10:35 am Singapore time, signals a gap down opening at Dalal Street on Friday.
Asian markets were trading mixed despite a record finish at Wall Street overnight, as investors looked ahead to Fed Chair Janet Yellen’s speech later on Friday who may offer further cues over when the Fed is likely to initiate a maiden interest lift-off since 2006. An uptick in the number of Americans filings for claiming jobless benefits last week, and a drop in existing home sales in April signaled underlying weakness in the world’s biggest economy, pushing back bets of a rate hike.
US jobless claims climbed by 10,000 to 274,000 last week, while sales of previously owned homes fell 3.3 per cent to a 5.04 million annualized pace in April. Shares in mainland China were trading on a bullish note after a leading index signaled a pickup in growth in the world’s second biggest economy. The China leading index climbed 1.1 per cent in April from March, when it rose 0.5 per cent. However, Japanese markets were trading lower amidst caution ahead of a Bank of Japan monetary policy decision with record stimulus expected to be kept intact.
22/05/2015
Against the backdrop of caution ahead of the Q4 report cards of blue chips SBI and ITC and a mixed trend in fellow Asian peers, Dalal Street is tipped to witness a flattish opening on the last trading session of the week. Retreating from a one-month high, the Sensex shed 27.86 points or 0.10 per cent to finish at 27, 809.35 on Thursday as investors resorted to profit booking after poor Q4 numbers from the likes of Tata Steel renewed concerns over Asia’s third biggest economy, overshadowing optimism over an interest rate cut by the Reserve Bank of India (RBI) next month. The country’s largest public sector bank, the State Bank of India, and FMCG major ITC will be in focus as they unveil their March quarter earnings.
Weakness in the SGX CNX Nifty Index futures for May delivery which fell 0.08 per cent to 8,403.50 at 10:35 am Singapore time, signals a gap down opening at Dalal Street on Friday.
Asian markets were trading mixed despite a record finish at Wall Street overnight, as investors looked ahead to Fed Chair Janet Yellen’s speech later on Friday who may offer further cues over when the Fed is likely to initiate a maiden interest lift-off since 2006. An uptick in the number of Americans filings for claiming jobless benefits last week, and a drop in existing home sales in April signaled underlying weakness in the world’s biggest economy, pushing back bets of a rate hike.
US jobless claims climbed by 10,000 to 274,000 last week, while sales of previously owned homes fell 3.3 per cent to a 5.04 million annualized pace in April. Shares in mainland China were trading on a bullish note after a leading index signaled a pickup in growth in the world’s second biggest economy. The China leading index climbed 1.1 per cent in April from March, when it rose 0.5 per cent. However, Japanese markets were trading lower amidst caution ahead of a Bank of Japan monetary policy decision with record stimulus expected to be kept intact.
