Pre Session- Flat opening seen for Sensex ahead of key macroeconomic data
12/04/2016
The key Indian equity benchmarks are likely to open little changed on Tuesday as traders stick to a cautious approach ahead of the March retail inflation and February IIP data due today, which are expected to signal the state of the health of the Indian economy. In January 2016, the country’s industrial production had plunged by 1.5 per cent, year on year, which is likely to have bounced back in positive territory in February. Retail inflation is expected to cool slightly to 5.1 per cent in March 2016 from February’s 5.2 per cent. Caution ahead of the start of the corporate earnings season on Friday when software major Infosys unveils its fourth quarter earnings numbers, may also weigh on Dalal Street. Moreover, volatility may remain high at the local bourses ahead of the two trading holidays on Thursday and Friday. Slightly negative trade in the CNX Nifty Index futures for April delivery which fell by 0.05 per cent or 4 points at 7,687.5 at 10:51 am Singapore time signals that the Sensex may open flat, with a negative bias today. The 30-share Sensex on Monday rallied by 348.32 points or by 1.41 per cent to end at 25,022.16 as traders warmly welcomed the predictions of a normal monsoon.
A mixed trend was noted in Asian stocks as Chinese shares fell after the country’s premier said that the economy faces very large downward pressure, but markets in Hong Kong rose modestly and Japan’s Nikkei 225 rallied by more than 1 per cent as a weaker yen bolstered the appeal of exporter stocks. Overnight, US stocks fell ahead of the start of the corporate earnings season, which is tipped to be the weakest since the financial crisis. The Dow Jones Industrial Average fell 0.12 per cent; the Nasdaq Composite dipped 0.36 per cent while S&P 500 declined 0.27 per cent
12/04/2016
The key Indian equity benchmarks are likely to open little changed on Tuesday as traders stick to a cautious approach ahead of the March retail inflation and February IIP data due today, which are expected to signal the state of the health of the Indian economy. In January 2016, the country’s industrial production had plunged by 1.5 per cent, year on year, which is likely to have bounced back in positive territory in February. Retail inflation is expected to cool slightly to 5.1 per cent in March 2016 from February’s 5.2 per cent. Caution ahead of the start of the corporate earnings season on Friday when software major Infosys unveils its fourth quarter earnings numbers, may also weigh on Dalal Street. Moreover, volatility may remain high at the local bourses ahead of the two trading holidays on Thursday and Friday. Slightly negative trade in the CNX Nifty Index futures for April delivery which fell by 0.05 per cent or 4 points at 7,687.5 at 10:51 am Singapore time signals that the Sensex may open flat, with a negative bias today. The 30-share Sensex on Monday rallied by 348.32 points or by 1.41 per cent to end at 25,022.16 as traders warmly welcomed the predictions of a normal monsoon.
A mixed trend was noted in Asian stocks as Chinese shares fell after the country’s premier said that the economy faces very large downward pressure, but markets in Hong Kong rose modestly and Japan’s Nikkei 225 rallied by more than 1 per cent as a weaker yen bolstered the appeal of exporter stocks. Overnight, US stocks fell ahead of the start of the corporate earnings season, which is tipped to be the weakest since the financial crisis. The Dow Jones Industrial Average fell 0.12 per cent; the Nasdaq Composite dipped 0.36 per cent while S&P 500 declined 0.27 per cent
