Pre Session- Bearish opening on the cards for Sensex; Wipro Q4 data eyed
20/04/2016
The key Indian equity benchmarks are set to witness a negative opening on Wednesday as traders weigh a mixed trend in fellow Asian peers even as the biggest surge in commodities since August buoyed Wall Street overnight. While the Shanghai Composite was trading with slight losses, Hang Seng fell but Japan’s Nikkei 225 rose as a weaker yen bolstered the lure for exporter stocks.
A decline in the CNX Nifty Index futures for April delivery which fell by 0.21 per cent or 16.5 points to 7,975 at 10:49 am Singapore time, signals a bearish opening for the Sensex today. Caution is expected to rule D-Street today as investors eye the fourth quarter earnings of Wipro with analysts expecting a 2.8 per cent sequential growth in dollar revenue for the company. TCS may be in focus today after posting a better than expected 3.8 per cent sequential growth in Q4 net income late Monday. However, sentiment may remain supported by rising hopes of a further interest rate cut by the RBI over the coming months as softening inflation leaves more leeway for policy easing. The country’s wholesale inflation came in at -0.85 per cent in March 2016, the seventeenth straight month of contraction. While markets were closed on Tuesday, the 30-share Sensex on Monday rallied by 189.61 points or by 0.74 per cent at 25,816.36.
20/04/2016
The key Indian equity benchmarks are set to witness a negative opening on Wednesday as traders weigh a mixed trend in fellow Asian peers even as the biggest surge in commodities since August buoyed Wall Street overnight. While the Shanghai Composite was trading with slight losses, Hang Seng fell but Japan’s Nikkei 225 rose as a weaker yen bolstered the lure for exporter stocks.
A decline in the CNX Nifty Index futures for April delivery which fell by 0.21 per cent or 16.5 points to 7,975 at 10:49 am Singapore time, signals a bearish opening for the Sensex today. Caution is expected to rule D-Street today as investors eye the fourth quarter earnings of Wipro with analysts expecting a 2.8 per cent sequential growth in dollar revenue for the company. TCS may be in focus today after posting a better than expected 3.8 per cent sequential growth in Q4 net income late Monday. However, sentiment may remain supported by rising hopes of a further interest rate cut by the RBI over the coming months as softening inflation leaves more leeway for policy easing. The country’s wholesale inflation came in at -0.85 per cent in March 2016, the seventeenth straight month of contraction. While markets were closed on Tuesday, the 30-share Sensex on Monday rallied by 189.61 points or by 0.74 per cent at 25,816.36.
