Pre Session: Market may see gap up opening on gradual Fed tightening
17/12/2015
The Indian equity markets may extend gaining streak on Thursday, taking firm cues from Asian peers and a strong finish on Wall Street overnight, after the US Fed announced the historic interest-rate hike in almost a decade, signaling confidence that the economy is recovering sustainably. The domestic bourses may witness short-covering rally as markets are likely to welcome ‘gradual’ tightening cycle with the 25-basis point rate hike. Though, a hike in US interest rates from near zero levels may make emerging market assets relatively less attractive, raising fears over a capital flight from EMs. The CNX Nifty Index futures for December delivery rose 28.50 points, or 0.37 per cent, to 7,788.50 at 10:24 am Singapore time, signaling a gap up opening for Dalal Street on Wednesday. On Wednesday, the 30-share BSE SENSEX closed at 25494.37, up by 173.93 points or by 0.69 per cent, and the NSE Nifty ended 50 points higher at 7750.90. The Indian equities ended tad higher for the third straight session on Wednesday as investors shrugged off a widely anticipated US rate hike, led by strong buying in oil and gas and PSU stocks.
Globally, Asian stocks extended rally for the second day on Thursday, tracking a strong finish on Wall Street overnight, as traders welcomed the historic US interest-rate hike in almost a decade. Following the conclusion of the two-day policy meet, the US Fed on Wednesday raised the range of its benchmark interest rate to between 0.25 per cent and 0.50 per cent from the zero to 0.25 percent range, indicating healthy growth in the world’s largest economy. Cheering the news, China’s Shanghai Composite and Hang Seng surged over 1 per cent, while Japan’s Nikkei 225 rallied over 2 per cent following Wall Street rally. US stocks ended higher in overnight trade, making its third straight gain in more than a week, after the US Federal Reserve raised interest rates for the first time in nine years, signaling confidence that the economy is recovering sustainably. All the three major indices ended higher, the Dow Jones Industrial Average added 224.18 points, or 1.28 per cent, to end at 17,749.09 and the S&P 500 closed 29.66 points, or 1.45 per cent, higher at 2,073.07. In a similar trend, the Nasdaq Composite settled 75.78 points, or 1.52 per cent, higher at 5,071.13. Top traded Volumes on NSE Nifty were ICICI Bank Ltd. 17168449.00, State Bank of India 13030720.00, Tata Motors Ltd. 11874858.00, Axis Bank Ltd. 8881531.00, Punjab National Bank 6913584.00.
17/12/2015
The Indian equity markets may extend gaining streak on Thursday, taking firm cues from Asian peers and a strong finish on Wall Street overnight, after the US Fed announced the historic interest-rate hike in almost a decade, signaling confidence that the economy is recovering sustainably. The domestic bourses may witness short-covering rally as markets are likely to welcome ‘gradual’ tightening cycle with the 25-basis point rate hike. Though, a hike in US interest rates from near zero levels may make emerging market assets relatively less attractive, raising fears over a capital flight from EMs. The CNX Nifty Index futures for December delivery rose 28.50 points, or 0.37 per cent, to 7,788.50 at 10:24 am Singapore time, signaling a gap up opening for Dalal Street on Wednesday. On Wednesday, the 30-share BSE SENSEX closed at 25494.37, up by 173.93 points or by 0.69 per cent, and the NSE Nifty ended 50 points higher at 7750.90. The Indian equities ended tad higher for the third straight session on Wednesday as investors shrugged off a widely anticipated US rate hike, led by strong buying in oil and gas and PSU stocks.
Globally, Asian stocks extended rally for the second day on Thursday, tracking a strong finish on Wall Street overnight, as traders welcomed the historic US interest-rate hike in almost a decade. Following the conclusion of the two-day policy meet, the US Fed on Wednesday raised the range of its benchmark interest rate to between 0.25 per cent and 0.50 per cent from the zero to 0.25 percent range, indicating healthy growth in the world’s largest economy. Cheering the news, China’s Shanghai Composite and Hang Seng surged over 1 per cent, while Japan’s Nikkei 225 rallied over 2 per cent following Wall Street rally. US stocks ended higher in overnight trade, making its third straight gain in more than a week, after the US Federal Reserve raised interest rates for the first time in nine years, signaling confidence that the economy is recovering sustainably. All the three major indices ended higher, the Dow Jones Industrial Average added 224.18 points, or 1.28 per cent, to end at 17,749.09 and the S&P 500 closed 29.66 points, or 1.45 per cent, higher at 2,073.07. In a similar trend, the Nasdaq Composite settled 75.78 points, or 1.52 per cent, higher at 5,071.13. Top traded Volumes on NSE Nifty were ICICI Bank Ltd. 17168449.00, State Bank of India 13030720.00, Tata Motors Ltd. 11874858.00, Axis Bank Ltd. 8881531.00, Punjab National Bank 6913584.00.
