Pre Session- Sensex to open higher on mostly positive Asia trend
21/01/2016
The key Indian equity benchmarks are tipped to witness a gap up opening on Thursday tracking a rebound in most stocks across Asia as stabilization in oil prices which plunged below the USD 27 per barrel mark to a 13-year low on Wednesday buoyed sentiment. The sharp losses suffered by Dalal Street in recent sessions when worries over China and a worsening commodity rout played havoc, may offer good bargain buying opportunity, to investors, in beaten down equities, at existing levels, supporting the Sensex. The 30-share benchmark on Wednesday tumbled to a 20-month low, crashing by 417.8 points or by 1.71 per cent to end at 24,062.04 as equities across Asia and Europe bled heavily after the IMF cut its global growth outlook and oil plummeted after the IEA warned that the market could “drown in oversupply” this year. Weakness in the rupee and continued sell-off by foreign investors also took toll on Dalal Street. Strength in the CNX Nifty Index futures for January delivery which advanced by 0.50 per cent or 37 points at 7,353.5 at 10:20 am Singapore time also signals that Dalal Street may open on a positive note today. Shares of Reliance Capital, Mahindra & Mahindra Financial Services, Idea Cellular and Biocon would be in focus today as these companies unveil their December quarter earnings.
Most Asian stocks rallied today as a sell-off in oil eased while traders resorted to value buying after the benchmark index for the region fell to a three-year low as a commodity slump fuelled concerns over fragile global economic growth. China’s Shanghai Composite retreated for a second straight day as traders seemed unsure over policymakers’ ability to manage an economic slowdown and tackle stock market volatility. However, Hang Seng jumped over 1 per cent and Japan’s Nikkei 225 also surged more than 1 per cent, a day after the benchmark slipped into bear market, while a weaker yen bolstered the lure for exporter stocks. Bears struck Wall Street on Wednesday as oil’s continued freefall and dismal US housing and consumer inflation data which signaled worries over the health of the world’s biggest economy, soured investor mood. US housing starts plunged 2.5 per cent to a 1.15 million annual pace in December, while consumer prices declined 0.1 per cent after being little changed in November. The Dow Jones Industrial Average tumbled 1.56 per cent; the Nasdaq Composite fell 0.12 per cent while S&P 500 plunged 1.17 per cent.
21/01/2016
The key Indian equity benchmarks are tipped to witness a gap up opening on Thursday tracking a rebound in most stocks across Asia as stabilization in oil prices which plunged below the USD 27 per barrel mark to a 13-year low on Wednesday buoyed sentiment. The sharp losses suffered by Dalal Street in recent sessions when worries over China and a worsening commodity rout played havoc, may offer good bargain buying opportunity, to investors, in beaten down equities, at existing levels, supporting the Sensex. The 30-share benchmark on Wednesday tumbled to a 20-month low, crashing by 417.8 points or by 1.71 per cent to end at 24,062.04 as equities across Asia and Europe bled heavily after the IMF cut its global growth outlook and oil plummeted after the IEA warned that the market could “drown in oversupply” this year. Weakness in the rupee and continued sell-off by foreign investors also took toll on Dalal Street. Strength in the CNX Nifty Index futures for January delivery which advanced by 0.50 per cent or 37 points at 7,353.5 at 10:20 am Singapore time also signals that Dalal Street may open on a positive note today. Shares of Reliance Capital, Mahindra & Mahindra Financial Services, Idea Cellular and Biocon would be in focus today as these companies unveil their December quarter earnings.
Most Asian stocks rallied today as a sell-off in oil eased while traders resorted to value buying after the benchmark index for the region fell to a three-year low as a commodity slump fuelled concerns over fragile global economic growth. China’s Shanghai Composite retreated for a second straight day as traders seemed unsure over policymakers’ ability to manage an economic slowdown and tackle stock market volatility. However, Hang Seng jumped over 1 per cent and Japan’s Nikkei 225 also surged more than 1 per cent, a day after the benchmark slipped into bear market, while a weaker yen bolstered the lure for exporter stocks. Bears struck Wall Street on Wednesday as oil’s continued freefall and dismal US housing and consumer inflation data which signaled worries over the health of the world’s biggest economy, soured investor mood. US housing starts plunged 2.5 per cent to a 1.15 million annual pace in December, while consumer prices declined 0.1 per cent after being little changed in November. The Dow Jones Industrial Average tumbled 1.56 per cent; the Nasdaq Composite fell 0.12 per cent while S&P 500 plunged 1.17 per cent.
