Pre Session- Gap up opening likely for Sensex; China fears to weigh
15/01/2016
The key Indian equity benchmarks may open higher on Friday as the sharp losses in recent sessions pave way for value buying in beaten down stocks. The CNX Nifty Index futures for January delivery advanced by 0.20 per cent or 15 points at 7,553 at 10:29 am Singapore time, a sign that Dalal Street may open on a positive note on the last trading day of the week. The focus will be on the Q3 earnings numbers of FMCG giant HUL which on Friday may report a net profit of Rs 1,030 crore in the October-December 2015 quarter, down 17 per cent on the year. Notwithstanding global economic uncertainties, foreign investors have returned to Indian stocks, buying a net USD 42.3 million of Indian equities on January 13, 2015. However, the gains in the Sensex maybe trimmed by worries over a slump in Indian manufacturing amidst the biggest contraction in industrial output in more than four years in November 2015, while anxiety over China’s slowdown may continue to weigh at domestic bourses as the country’s lending data missed expectations, signaling fears of a hard landing in the world’s second biggest economy. The 30-share Sensex on Thursday succumbed to a renewed sell-off, retreating by 81.14 points or by 0.33 per cent to end at 24,772.97 weighed down by losses in banking, capital goods, realty and auto stocks, overshadowing the stellar rally in IT major Infosys which posted an upbeat Q3 earnings report.
Asian stocks were trading on a mixed note as fresh signs of weakness in China’s economy soured investor sentiment but an overnight rally at Wall Street amidst a stabilization of a commodity rout supported sentiment. China’s Shanghai Composite tanked over 1 per cent and Hang Seng declined after data showed that new local currency loans in China came in at 597.8 billion Yuan in December after 709 billion Yuan in November, with a slowdown in new lending signaling further worries over Asia’s biggest economy. Japan’s Nikkei 225 advanced as a weaker yen bolstered the lure for exporter stocks. US stocks rose on Thursday as energy producers advanced after oil staged a relief rally while Federal Reserve Bank of St. Louis Chief James Bullard said that an energy price rout may dent inflation expectations, tempering expectations of a further interest rate hike by the US Fed. The Dow Jones Industrial Average surged 1.41 per cent; the Nasdaq Composite climbed 1.97 per cent while S&P 500 rallied 1.67 per cent.
15/01/2016
The key Indian equity benchmarks may open higher on Friday as the sharp losses in recent sessions pave way for value buying in beaten down stocks. The CNX Nifty Index futures for January delivery advanced by 0.20 per cent or 15 points at 7,553 at 10:29 am Singapore time, a sign that Dalal Street may open on a positive note on the last trading day of the week. The focus will be on the Q3 earnings numbers of FMCG giant HUL which on Friday may report a net profit of Rs 1,030 crore in the October-December 2015 quarter, down 17 per cent on the year. Notwithstanding global economic uncertainties, foreign investors have returned to Indian stocks, buying a net USD 42.3 million of Indian equities on January 13, 2015. However, the gains in the Sensex maybe trimmed by worries over a slump in Indian manufacturing amidst the biggest contraction in industrial output in more than four years in November 2015, while anxiety over China’s slowdown may continue to weigh at domestic bourses as the country’s lending data missed expectations, signaling fears of a hard landing in the world’s second biggest economy. The 30-share Sensex on Thursday succumbed to a renewed sell-off, retreating by 81.14 points or by 0.33 per cent to end at 24,772.97 weighed down by losses in banking, capital goods, realty and auto stocks, overshadowing the stellar rally in IT major Infosys which posted an upbeat Q3 earnings report.
Asian stocks were trading on a mixed note as fresh signs of weakness in China’s economy soured investor sentiment but an overnight rally at Wall Street amidst a stabilization of a commodity rout supported sentiment. China’s Shanghai Composite tanked over 1 per cent and Hang Seng declined after data showed that new local currency loans in China came in at 597.8 billion Yuan in December after 709 billion Yuan in November, with a slowdown in new lending signaling further worries over Asia’s biggest economy. Japan’s Nikkei 225 advanced as a weaker yen bolstered the lure for exporter stocks. US stocks rose on Thursday as energy producers advanced after oil staged a relief rally while Federal Reserve Bank of St. Louis Chief James Bullard said that an energy price rout may dent inflation expectations, tempering expectations of a further interest rate hike by the US Fed. The Dow Jones Industrial Average surged 1.41 per cent; the Nasdaq Composite climbed 1.97 per cent while S&P 500 rallied 1.67 per cent.
