Pre Session- Dalal Street poised for bearish opening on cautious sentiment
11/04/2016
The key Indian equity benchmarks are likely to open lower on Monday with investors sticking to a cautious approach ahead of macroeconomic data due this week including the February industrial output and March consumer inflation, which will offer fresh cues over the health of Asia’s third biggest economy. Nerves are also expected to rule D-Street ahead of the start of the much anticipated Jan-Mar 2015-16 quarter corporate earnings season which will kick off this week with software giant Infosys unveiling its Q4 numbers on Friday. Traders will also take cues from FPI investment trend, crude oil prices and the movement of the rupee. With markets closed on Thursday and Friday on the occasion of Baba Saheb Ambedkar Jayanti and Ram Navami, respectively, some volatility can be expected at the local bourses. Meanwhile, a decline in the CNX Nifty Index futures for April delivery which fell by 0.16 per cent or 12 points at 7,569.5 at 10:54 am Singapore time signal that the Sensex may see a gap down opening today. Led by caution ahead of Q4 earnings data, the 30-share Sensex on Friday ended lower by 11.58 points or by 0.05 per cent at 24,673.84.
Asian stocks were trading mixed as investors in China and Hong Kong cheered upbeat China inflation data which eased concerns over a slowdown in the world’s second biggest economy. China’s consumer prices rose 2.3 per cent, year on year in March 2016, while factory gate prices climbed 0.5 per cent on the month. However, Japan’s Nikkei 225 plunged by over 1 per cent as a stronger yen eroded the lure for exporter stocks. Wall Street ended with mild gains on Friday amidst higher oil prices that lifted energy shares. The Dow Jones Industrial Average climbed 0.20 per cent; the Nasdaq Composite advanced 0.05 per cent while S&P 500 rose 0.28 per cent.
11/04/2016
The key Indian equity benchmarks are likely to open lower on Monday with investors sticking to a cautious approach ahead of macroeconomic data due this week including the February industrial output and March consumer inflation, which will offer fresh cues over the health of Asia’s third biggest economy. Nerves are also expected to rule D-Street ahead of the start of the much anticipated Jan-Mar 2015-16 quarter corporate earnings season which will kick off this week with software giant Infosys unveiling its Q4 numbers on Friday. Traders will also take cues from FPI investment trend, crude oil prices and the movement of the rupee. With markets closed on Thursday and Friday on the occasion of Baba Saheb Ambedkar Jayanti and Ram Navami, respectively, some volatility can be expected at the local bourses. Meanwhile, a decline in the CNX Nifty Index futures for April delivery which fell by 0.16 per cent or 12 points at 7,569.5 at 10:54 am Singapore time signal that the Sensex may see a gap down opening today. Led by caution ahead of Q4 earnings data, the 30-share Sensex on Friday ended lower by 11.58 points or by 0.05 per cent at 24,673.84.
Asian stocks were trading mixed as investors in China and Hong Kong cheered upbeat China inflation data which eased concerns over a slowdown in the world’s second biggest economy. China’s consumer prices rose 2.3 per cent, year on year in March 2016, while factory gate prices climbed 0.5 per cent on the month. However, Japan’s Nikkei 225 plunged by over 1 per cent as a stronger yen eroded the lure for exporter stocks. Wall Street ended with mild gains on Friday amidst higher oil prices that lifted energy shares. The Dow Jones Industrial Average climbed 0.20 per cent; the Nasdaq Composite advanced 0.05 per cent while S&P 500 rose 0.28 per cent.
