Pre Session- Sensex set to snap 6-day losing streak on global rally
03/11/2015 08:35
The key domestic equity benchmarks are likely to rise for the first time in seven sessions on Tuesday tracking a firm trend in most fellow Asian equities and a bullish closing at Wall Street overnight amidst stabilization in global manufacturing activity, easing concerns over the health of the world economy. Indian Oil Corporation and GAIL India will be in focus today as they report their September quarter earnings. Meanwhile, India’s core sector growth hit the highest level in four months as output of the key eight infrastructure industries surged 3.2 per cent, year on year in September, easing concerns over a slowdown in manufacturing in Asia’s third biggest economy, bolstering risk taking appetite. Against the backdrop of robust global cues and strength in the CNX Nifty Index futures for November delivery which rallied by 0.43 per cent or 35 points at 8,104 at 10:41 am Singapore time, Dalal Street is set to open on a strong note today. Marking a sixth straight finish in the red, the 30-share Sensex on Monday fell 97.68 points or by 0.37 per cent to end at 26,559.15 as manufacturing activity hit a 22-month low in October with the Nikkei India Manufacturing PMI falling to 50.7 from 51.2 in September, but remaining above the neutral 50-mark while caution prevailed ahead of the outcome of the Bihar state elections.
Most Asian stocks were trading higher tracking resurgence in US equities on Monday as expansion in US manufacturing and a pickup in Euro area manufacturing stemmed worries over a worsening global economic slowdown. While the ISM US Manufacturing PMI remained unchanged at 50.1 in October, the Euro area factory gauge picked up to 52.3 from 52 in September. While stocks in mainland China were trading with modest losses amid concerns over a factory slump, shares in Hong Kong surged over 1 per cent, markets in Singapore, Taiwan & South Korea advanced while Japanese markets were closed. On Monday, Wall Street rallied with the Nasdaq Composite hitting a 15-year high as factory data in the US and Euro area topped estimates.
03/11/2015 08:35
The key domestic equity benchmarks are likely to rise for the first time in seven sessions on Tuesday tracking a firm trend in most fellow Asian equities and a bullish closing at Wall Street overnight amidst stabilization in global manufacturing activity, easing concerns over the health of the world economy. Indian Oil Corporation and GAIL India will be in focus today as they report their September quarter earnings. Meanwhile, India’s core sector growth hit the highest level in four months as output of the key eight infrastructure industries surged 3.2 per cent, year on year in September, easing concerns over a slowdown in manufacturing in Asia’s third biggest economy, bolstering risk taking appetite. Against the backdrop of robust global cues and strength in the CNX Nifty Index futures for November delivery which rallied by 0.43 per cent or 35 points at 8,104 at 10:41 am Singapore time, Dalal Street is set to open on a strong note today. Marking a sixth straight finish in the red, the 30-share Sensex on Monday fell 97.68 points or by 0.37 per cent to end at 26,559.15 as manufacturing activity hit a 22-month low in October with the Nikkei India Manufacturing PMI falling to 50.7 from 51.2 in September, but remaining above the neutral 50-mark while caution prevailed ahead of the outcome of the Bihar state elections.
Most Asian stocks were trading higher tracking resurgence in US equities on Monday as expansion in US manufacturing and a pickup in Euro area manufacturing stemmed worries over a worsening global economic slowdown. While the ISM US Manufacturing PMI remained unchanged at 50.1 in October, the Euro area factory gauge picked up to 52.3 from 52 in September. While stocks in mainland China were trading with modest losses amid concerns over a factory slump, shares in Hong Kong surged over 1 per cent, markets in Singapore, Taiwan & South Korea advanced while Japanese markets were closed. On Monday, Wall Street rallied with the Nasdaq Composite hitting a 15-year high as factory data in the US and Euro area topped estimates.
