Pre Session- Gap up opening on the cards for Sensex on global rally
17/11/2015
The key Indian equity benchmarks are poised to extend Monday’s gains and open higher today tracking resurgence in global stock markets as investor sentiment rebounds amid optimism that Friday’s deadly terror attack in Paris which claimed the lives of more than 100 people, will not have a major global economic impact. Against the backdrop of a bullish trend in Asia and a sharp rebound at Wall Street overnight, coupled with strength in the CNX Nifty Index futures for November delivery which rallied 0.48 per cent or 37.5 points at 7,865.5 at 10:50 am Singapore time, Dalal Street is set to witness a gap up opening on Tuesday. Snapping a six-day losing streak, the 30-share Sensex on Monday rebounded from a two-month low, advancing 149.57 points or by 0.58 per cent to end at 25,760.1 as the recent sharp losses offered investors, a good bargain buying opportunity in beaten down stocks while traders weighed the WPI data which showed that wholesale prices shrank for the twelfth month on the trot in October 2015, falling 3.81 per cent from the same month a year ago, compared to an annual 4.54 per cent decline in September 2015. Meanwhile, India’s exports shrank for an eleventh month on the trot, down 17.5 per cent, year on year in October 2015 while the trade gap at USD 9.8 billion was the lowest this fiscal, supporting Asia’s third biggest economy.
Asian stocks climbed on Tuesday tracking a rally at Wall Street on Monday as investors looked past Friday’s Paris terror attacks. China’s Shanghai Composite soared nearly 2 per cent as brokerages advanced on resumption of IPOs and higher trading volumes. Hang Seng soared and Japan’s Nikkei 225 also rallied handsomely as a weaker yen boosted the appeal of exporter stocks. Wall Street rebounded strongly from Friday’s losses with each of the Dow Jones Industrial Average, Nasdaq Composite and S&P 500 rallying over 1 per cent on Monday led by a spike in shares of energy companies.
17/11/2015
The key Indian equity benchmarks are poised to extend Monday’s gains and open higher today tracking resurgence in global stock markets as investor sentiment rebounds amid optimism that Friday’s deadly terror attack in Paris which claimed the lives of more than 100 people, will not have a major global economic impact. Against the backdrop of a bullish trend in Asia and a sharp rebound at Wall Street overnight, coupled with strength in the CNX Nifty Index futures for November delivery which rallied 0.48 per cent or 37.5 points at 7,865.5 at 10:50 am Singapore time, Dalal Street is set to witness a gap up opening on Tuesday. Snapping a six-day losing streak, the 30-share Sensex on Monday rebounded from a two-month low, advancing 149.57 points or by 0.58 per cent to end at 25,760.1 as the recent sharp losses offered investors, a good bargain buying opportunity in beaten down stocks while traders weighed the WPI data which showed that wholesale prices shrank for the twelfth month on the trot in October 2015, falling 3.81 per cent from the same month a year ago, compared to an annual 4.54 per cent decline in September 2015. Meanwhile, India’s exports shrank for an eleventh month on the trot, down 17.5 per cent, year on year in October 2015 while the trade gap at USD 9.8 billion was the lowest this fiscal, supporting Asia’s third biggest economy.
Asian stocks climbed on Tuesday tracking a rally at Wall Street on Monday as investors looked past Friday’s Paris terror attacks. China’s Shanghai Composite soared nearly 2 per cent as brokerages advanced on resumption of IPOs and higher trading volumes. Hang Seng soared and Japan’s Nikkei 225 also rallied handsomely as a weaker yen boosted the appeal of exporter stocks. Wall Street rebounded strongly from Friday’s losses with each of the Dow Jones Industrial Average, Nasdaq Composite and S&P 500 rallying over 1 per cent on Monday led by a spike in shares of energy companies.
