Pre-Session: Market may extend rally on firm global cues
02/07/2015 08:46
The Indian equities are likely to extend gaining momentum on Thursday tracking firm cues from Asian peers, albeit looming uncertainty over Greece's debt situation may cap upmove. Among the Asian peers, all the markets were trading higher, barring China’s Shanghai Composite, even as Greece ended up defaulting on its euro 1.55 billion loan ($1.73 billion) to the International Monetary Fund (IMF) on June 30, with creditors rejecting a last-ditch effort to buy more time. Back home, normal monsoon rainfall in July forecasted by Skylet may further inject positivity in the market. Monsoon rainfall across the country, which has been above normal so far in June, is expected to remain normal this month, albeit it is going to start on a weak note, according to Skymet report. Further, a positive opening of the SGX CNX Nifty Index futures indicates a bullish opening for domestic bourses.
Yesterday, the Indian benchmarks ended on a positive note led by capital goods shares after May core sector growth signaled a recovery in industrial activity. Growth in production in the eight key infrastructure sectors hit a six-month high of 4.4 per cent in May, after two consecutive months of decline, indicating a recovery in industrial activity. All sectoral indices closed in green, with banking, auto and capital goods ranking among the major gainers.
The BSE SENSEX closed at 28020.87, up by 240.04 points or by 0.86 per cent and then NSE Nifty closed at 8453.05, up by 84.55 points or by 1.01 per cent.
02/07/2015 08:46
The Indian equities are likely to extend gaining momentum on Thursday tracking firm cues from Asian peers, albeit looming uncertainty over Greece's debt situation may cap upmove. Among the Asian peers, all the markets were trading higher, barring China’s Shanghai Composite, even as Greece ended up defaulting on its euro 1.55 billion loan ($1.73 billion) to the International Monetary Fund (IMF) on June 30, with creditors rejecting a last-ditch effort to buy more time. Back home, normal monsoon rainfall in July forecasted by Skylet may further inject positivity in the market. Monsoon rainfall across the country, which has been above normal so far in June, is expected to remain normal this month, albeit it is going to start on a weak note, according to Skymet report. Further, a positive opening of the SGX CNX Nifty Index futures indicates a bullish opening for domestic bourses.
Yesterday, the Indian benchmarks ended on a positive note led by capital goods shares after May core sector growth signaled a recovery in industrial activity. Growth in production in the eight key infrastructure sectors hit a six-month high of 4.4 per cent in May, after two consecutive months of decline, indicating a recovery in industrial activity. All sectoral indices closed in green, with banking, auto and capital goods ranking among the major gainers.
The BSE SENSEX closed at 28020.87, up by 240.04 points or by 0.86 per cent and then NSE Nifty closed at 8453.05, up by 84.55 points or by 1.01 per cent.
