Pre Session- Gap up opening on the cards for Sensex on firm Asia trend
28/03/2016
Indian equity benchmarks are likely to witness a positive opening on Monday tracking bullish cues from major Asian markets as oil advanced while optimism grew over the strength in the world’s biggest economy after an upward revision in fourth quarter growth, bolstering risk taking appetite. Strength in the CNX Nifty Index futures for March delivery, which climbed by 0.15 per cent or 11.5 points at 7,697 at 10:31 am Singapore time, signals that Dalal Street may open higher today. The local bourses are expected to witness some volatility this week as traders roll over their positions ahead of the expiry of the March futures & options (F&O) contracts this Thursday. Global trends, investment by foreign portfolio investors and movement in crude oil prices will also dictate the Indian stock market trend this week. The next big trigger for the markets is the RBI policy meet on April 5 in which a 25 bps rate cut is widely expected as the government’s vow to maintain fiscal prudence in the Union Budget and softening consumer inflation opened the door for further monetary easing for the central bank to help bolster growth and revive investments in Asia’s third biggest economy. Marking a fourth straight weekly rally, the Sensex, in a holiday shortened week, climbed 1 per cent last week or 384.82 points to end at 25,337.56 as foreign investors continued to bet big on Indian equities.
Major Asian stocks advanced after US Q4 economic growth was upwardly revised to 1.4 per cent annualized pace from 1 per cent earlier, driven by higher consumer spending. China’s Shanghai Composite climbed after industrial profits snapped a seven- month losing streak, up by 4.8 per cent, year on year in January-February 2016, easing worries over the world’s second biggest economy. Hang Seng was closed today while Japan’s Nikkei 225 rallied as a weaker yen bolstered the lure for exporter stocks
28/03/2016
Indian equity benchmarks are likely to witness a positive opening on Monday tracking bullish cues from major Asian markets as oil advanced while optimism grew over the strength in the world’s biggest economy after an upward revision in fourth quarter growth, bolstering risk taking appetite. Strength in the CNX Nifty Index futures for March delivery, which climbed by 0.15 per cent or 11.5 points at 7,697 at 10:31 am Singapore time, signals that Dalal Street may open higher today. The local bourses are expected to witness some volatility this week as traders roll over their positions ahead of the expiry of the March futures & options (F&O) contracts this Thursday. Global trends, investment by foreign portfolio investors and movement in crude oil prices will also dictate the Indian stock market trend this week. The next big trigger for the markets is the RBI policy meet on April 5 in which a 25 bps rate cut is widely expected as the government’s vow to maintain fiscal prudence in the Union Budget and softening consumer inflation opened the door for further monetary easing for the central bank to help bolster growth and revive investments in Asia’s third biggest economy. Marking a fourth straight weekly rally, the Sensex, in a holiday shortened week, climbed 1 per cent last week or 384.82 points to end at 25,337.56 as foreign investors continued to bet big on Indian equities.
Major Asian stocks advanced after US Q4 economic growth was upwardly revised to 1.4 per cent annualized pace from 1 per cent earlier, driven by higher consumer spending. China’s Shanghai Composite climbed after industrial profits snapped a seven- month losing streak, up by 4.8 per cent, year on year in January-February 2016, easing worries over the world’s second biggest economy. Hang Seng was closed today while Japan’s Nikkei 225 rallied as a weaker yen bolstered the lure for exporter stocks
