Pre Session- Dalal Street set for gap up opening on positive Asia trend
29/12/2015
Indian equity benchmarks are set to witness a firm opening on Tuesday tracking a positive trend across Asia as the likelihood of fresh stimulus by China eased concerns over a hard landing in the world’s second biggest economy, bolstering the appetite for risky assets. Gains in the CNX Nifty Index futures for December delivery, which climbed 0.29 per cent or 23 points at 7,921 at 10:09 am Singapore time, signal that the Sensex may open higher today. Volatility may remain high at Dalal Street as traders roll over their positions ahead of the expiry of the December futures and options (F&O) contracts on Thursday. Meanwhile, lack of participation by major foreign funds which might have already closed books due to the holiday period could curb trading volume and weigh on sentiment at domestic bourses, limiting gains in the Sensex. With no major domestic economic numbers due this week, F&O expiry, global cues, movement of the rupee against the dollar, and oil prices will dictate market trend. On Monday, the 30-share Sensex advanced 195.42 points or by 0.76 per cent to end at 26,034.13 driven by value-buying in beaten down blue chips ahead of the derivative expiry later in the week.
Asian stocks were trading higher on Tuesday even as Wall Street finished on a bearish note overnight as the oil rout resumed. China’s Shanghai Composite bounced back after posting the biggest loss in three weeks on Monday, amidst optimism that the government’s continued cash injection to prop up the country’s stock market may help combat a lingering economic slowdown. Hang Seng and Japan’s Nikkei 225 scored mild gains. US stocks ended lower in thin trade on Monday dragged down by energy shares, with the Dow Jones Industrial Average falling 0.14 per cent, the Nasdaq Composite dropping 0.15 per cent while S&P 500 declining 0.22 per cent.
29/12/2015
Indian equity benchmarks are set to witness a firm opening on Tuesday tracking a positive trend across Asia as the likelihood of fresh stimulus by China eased concerns over a hard landing in the world’s second biggest economy, bolstering the appetite for risky assets. Gains in the CNX Nifty Index futures for December delivery, which climbed 0.29 per cent or 23 points at 7,921 at 10:09 am Singapore time, signal that the Sensex may open higher today. Volatility may remain high at Dalal Street as traders roll over their positions ahead of the expiry of the December futures and options (F&O) contracts on Thursday. Meanwhile, lack of participation by major foreign funds which might have already closed books due to the holiday period could curb trading volume and weigh on sentiment at domestic bourses, limiting gains in the Sensex. With no major domestic economic numbers due this week, F&O expiry, global cues, movement of the rupee against the dollar, and oil prices will dictate market trend. On Monday, the 30-share Sensex advanced 195.42 points or by 0.76 per cent to end at 26,034.13 driven by value-buying in beaten down blue chips ahead of the derivative expiry later in the week.
Asian stocks were trading higher on Tuesday even as Wall Street finished on a bearish note overnight as the oil rout resumed. China’s Shanghai Composite bounced back after posting the biggest loss in three weeks on Monday, amidst optimism that the government’s continued cash injection to prop up the country’s stock market may help combat a lingering economic slowdown. Hang Seng and Japan’s Nikkei 225 scored mild gains. US stocks ended lower in thin trade on Monday dragged down by energy shares, with the Dow Jones Industrial Average falling 0.14 per cent, the Nasdaq Composite dropping 0.15 per cent while S&P 500 declining 0.22 per cent.
