Pre Session- Sensex set to open lower on subdued Asia trend as Fed minutes eyed
18/11/2015
The key domestic equity benchmarks are set to witness a gap down opening today tracking a mostly bearish trend across markets in Asia as traders across the globe await the release of the minutes from the US Federal Reserve’s latest meet, on Wednesday, which may offer further cues over whether policymakers from the world’s top central bank are likely to raise interest rates in December, for the first time in nearly a decade. Rising speculation of a US Federal Reserve rate lift-off in the near-term may continue to exert pressure on foreign investor flows in Asia’s third biggest economy as fears of higher interest rates in the US prompts them to reduce their exposure in risky assets . Foreign Institutional Investors (FIIs) have been net sellers of Indian equities worth USD 506.37 million so far in November. Against the backdrop of a sluggish trend in most Asian markets and weakness in the CNX Nifty Index futures for November delivery which fell 0.24 per cent or 19 points at 7,829 at 10:47 am Singapore time, Dalal Street is set to witness a bearish opening on Wednesday. Marking a second straight day of gains, the 30-share Sensex on Tuesday advanced by 104.37 points or by 0.41 per cent to end at 25,864.47 as investors continued to snap up beaten down stocks after recent sharp losses offered a good bargain buying opportunity, and as global markets regained steam after last week’s Paris terror attacks.
Most Asian stocks were trading lower as investors eyed the FOMC minutes today even as higher US inflation boosted the case for a hike in interest rates in the world’s biggest economy. China’s Shanghai Composite and Hang Seng fell but Japan’s Nikkei 225 was trading higher as a weaker yen bolstered the appeal of exporter stocks and as traders awaited the Bank of Japan’s policy meet on Thursday. Wall Street ended little changed on Tuesday as robust US factory and inflation data bolstered the case for higher interest rates. US core consumer prices rose 0.2 per cent for the second straight month in October, marking the strongest back-to-back gains since April and May and manufacturing output climbed for the first time in three months, up 0.4 per cent in October.
18/11/2015
The key domestic equity benchmarks are set to witness a gap down opening today tracking a mostly bearish trend across markets in Asia as traders across the globe await the release of the minutes from the US Federal Reserve’s latest meet, on Wednesday, which may offer further cues over whether policymakers from the world’s top central bank are likely to raise interest rates in December, for the first time in nearly a decade. Rising speculation of a US Federal Reserve rate lift-off in the near-term may continue to exert pressure on foreign investor flows in Asia’s third biggest economy as fears of higher interest rates in the US prompts them to reduce their exposure in risky assets . Foreign Institutional Investors (FIIs) have been net sellers of Indian equities worth USD 506.37 million so far in November. Against the backdrop of a sluggish trend in most Asian markets and weakness in the CNX Nifty Index futures for November delivery which fell 0.24 per cent or 19 points at 7,829 at 10:47 am Singapore time, Dalal Street is set to witness a bearish opening on Wednesday. Marking a second straight day of gains, the 30-share Sensex on Tuesday advanced by 104.37 points or by 0.41 per cent to end at 25,864.47 as investors continued to snap up beaten down stocks after recent sharp losses offered a good bargain buying opportunity, and as global markets regained steam after last week’s Paris terror attacks.
Most Asian stocks were trading lower as investors eyed the FOMC minutes today even as higher US inflation boosted the case for a hike in interest rates in the world’s biggest economy. China’s Shanghai Composite and Hang Seng fell but Japan’s Nikkei 225 was trading higher as a weaker yen bolstered the appeal of exporter stocks and as traders awaited the Bank of Japan’s policy meet on Thursday. Wall Street ended little changed on Tuesday as robust US factory and inflation data bolstered the case for higher interest rates. US core consumer prices rose 0.2 per cent for the second straight month in October, marking the strongest back-to-back gains since April and May and manufacturing output climbed for the first time in three months, up 0.4 per cent in October.
