Pre Session-Positive opening seen for Sensex on firm global trend
26/02/2016
Indian equity benchmarks are likely to witness a gap up opening on Friday, the first day of the March derivative series, tracking a bullish trend across Asia and a strong finish at Wall Street overnight amidst a meeting of finance chiefs from the G20 countries. Strength in the CNX Nifty Index futures for March delivery that rallied by 0.82 per cent or by 58 points at 7,070 at 10:39 am Singapore time, signals that the Sensex may open higher on Friday, when the government presents the economic survey of the various policy initiatives over the past year. The focus will be firmly on the Union Budget 2016-17 to be presented on Monday by Finance Minister Arun Jaitley which will indicate the progress on reining in the fiscal deficit and measures taken by the government to kickstart the investment cycle. Marking a third straight day in the red, the 30-share Sensex on Thursday shed 112.93 points or 0.49 per cent to end at 22,976 as a lackluster rail budget and weakness in global stocks hit sentiment, while traders rolled over their positions on the day of the February F&O contract expiry. Railway Minister Suresh Prabhu proposed raising the capital outlay for the Indian Railways, by 21 per cent to Rs 1.21 lakh crore.
Asian stocks rallied as concerns over China eased after the country’s central bank assured that it had further monetary easing room to help prop up growth in the world’s second biggest economy and that there is no reason for yuan depreciation. China’s Shanghai Composite advanced and Hang Seng jumped over 1.7 per cent and Japan’s Nikkei 225 rose as a weaker yen bolstered the lure for exporter stocks. Wall Street rallied on Thursday as oil’s rebound cheered traders, helping investors brush aside renewed volatility in Chinese shares which sank nearly 6 per cent. Meanwhile, orders for US capital goods rose the most since June 2014, up nearly 3.9 per cent in January 2016, a sign that the manufacturing downturn in the world’s biggest economy may be abating. The Dow Jones Industrial Average advanced 1.29 per cent; the Nasdaq Composite rallied 0.87 per cent while S&P 500 gained 1.13 per cent.
26/02/2016
Indian equity benchmarks are likely to witness a gap up opening on Friday, the first day of the March derivative series, tracking a bullish trend across Asia and a strong finish at Wall Street overnight amidst a meeting of finance chiefs from the G20 countries. Strength in the CNX Nifty Index futures for March delivery that rallied by 0.82 per cent or by 58 points at 7,070 at 10:39 am Singapore time, signals that the Sensex may open higher on Friday, when the government presents the economic survey of the various policy initiatives over the past year. The focus will be firmly on the Union Budget 2016-17 to be presented on Monday by Finance Minister Arun Jaitley which will indicate the progress on reining in the fiscal deficit and measures taken by the government to kickstart the investment cycle. Marking a third straight day in the red, the 30-share Sensex on Thursday shed 112.93 points or 0.49 per cent to end at 22,976 as a lackluster rail budget and weakness in global stocks hit sentiment, while traders rolled over their positions on the day of the February F&O contract expiry. Railway Minister Suresh Prabhu proposed raising the capital outlay for the Indian Railways, by 21 per cent to Rs 1.21 lakh crore.
Asian stocks rallied as concerns over China eased after the country’s central bank assured that it had further monetary easing room to help prop up growth in the world’s second biggest economy and that there is no reason for yuan depreciation. China’s Shanghai Composite advanced and Hang Seng jumped over 1.7 per cent and Japan’s Nikkei 225 rose as a weaker yen bolstered the lure for exporter stocks. Wall Street rallied on Thursday as oil’s rebound cheered traders, helping investors brush aside renewed volatility in Chinese shares which sank nearly 6 per cent. Meanwhile, orders for US capital goods rose the most since June 2014, up nearly 3.9 per cent in January 2016, a sign that the manufacturing downturn in the world’s biggest economy may be abating. The Dow Jones Industrial Average advanced 1.29 per cent; the Nasdaq Composite rallied 0.87 per cent while S&P 500 gained 1.13 per cent.
