Pre Session- Bearish opening on the cards for D-Street amid weak Asian cues
25/04/2016
The key Indian equity benchmarks are likely to witness a gap down opening on Monday tracking a slump in stocks across Asia as traders were wary of risky assets ahead of the US Federal Reserve and the Bank of Japan’s monetary policy meetings this week with doubts rising over the ability of central banks to help prop up a flagging global economic recovery. Shanghai Composite, Hang Seng and Nikkei 225 were languishing in the red today as speculation emerged that the Bank of Japan may enhance the scope of negative interest rates while traders awaited fresh signals from the Fed over its trajectory for hiking interest rates further in the US. A drop n the CNX Nifty Index Futures for April delivery, which fell by 0.27 per cent or 21 points at 7,894 at 10:49 AM Singapore time, also signals that the Sensex may open lower today. Shares of Reliance Industries may see some buying momentum as the company after Friday’s trading reported the highest quarterly profit in more than eight years led by rising refining and petrochemical margins. RIL said that Q4 net profit rose by 16 per cent to Rs 7,398 crore, on a year- on- year basis.
Dalal Street is expected to see a volatility ridden week as traders roll over their positions ahead of Thursday’s April derivative expiry. Shares of ICICI Bank, Bharti Airtel, Maruti Suzuki, Axis Bank and Idea Cellular will be in focus this week as they report Q4 earnings. FII trend, movement of the rupee against the dollar, crude oil price swings and global trend will also dictate stock market direction.
25/04/2016
The key Indian equity benchmarks are likely to witness a gap down opening on Monday tracking a slump in stocks across Asia as traders were wary of risky assets ahead of the US Federal Reserve and the Bank of Japan’s monetary policy meetings this week with doubts rising over the ability of central banks to help prop up a flagging global economic recovery. Shanghai Composite, Hang Seng and Nikkei 225 were languishing in the red today as speculation emerged that the Bank of Japan may enhance the scope of negative interest rates while traders awaited fresh signals from the Fed over its trajectory for hiking interest rates further in the US. A drop n the CNX Nifty Index Futures for April delivery, which fell by 0.27 per cent or 21 points at 7,894 at 10:49 AM Singapore time, also signals that the Sensex may open lower today. Shares of Reliance Industries may see some buying momentum as the company after Friday’s trading reported the highest quarterly profit in more than eight years led by rising refining and petrochemical margins. RIL said that Q4 net profit rose by 16 per cent to Rs 7,398 crore, on a year- on- year basis.
Dalal Street is expected to see a volatility ridden week as traders roll over their positions ahead of Thursday’s April derivative expiry. Shares of ICICI Bank, Bharti Airtel, Maruti Suzuki, Axis Bank and Idea Cellular will be in focus this week as they report Q4 earnings. FII trend, movement of the rupee against the dollar, crude oil price swings and global trend will also dictate stock market direction.
