Pre Session- Bullish opening seen for Dalal Street on Fed; F&O expiry in focus
28/04/2016
The key Indian equity benchmarks are likely to open on a positive note on Thursday tracking a rally across most Asian markets as traders cheered the US Fed’s signal that it will continue to tread on the slow rate hike path, bolstering the lure for risky assets. Dalal Street may see increased volatility today as traders roll over their positions ahead of the April derivative contracts expiry. Shares of ACC, Ambuja Cement, Idea, HCL Tech and Dabur will be in focus as traders eye their quarterly earnings releases today. Meanwhile, the country’s top telecom carrier Bharti Airtel late Wednesday posted earnings that beat Street estimates, with consolidated net profit rising 2.8 per cent, year-on-year, in Q4 FY 2015-16 to Rs 1,290 crore on higher consumption of data and voice services. On the economic front, global ratings giant Moody’s has warned that India’s credit rating profile remains at risk from high government debt levels, historically high inflation, weak infrastructure and complex regulatory regime. The 30-share Sensex on Wednesday rallied by 56.82 points or by 0.22 per cent to end at 26,064.12 led by gains in oil & gas stocks.
Most major Asian markets rose today after the Fed left unchanged its benchmark interest rate and indicated that it plans to stick to its gradual approach in raising interest rates in the world’s biggest economy. While China’s Shanghai Composite succumbed to mild losses, Hang Seng rallied, Japan’s Nikkei 225 advanced over 1 per cent as traders eyed the Bank of Japan policy decision.
28/04/2016
The key Indian equity benchmarks are likely to open on a positive note on Thursday tracking a rally across most Asian markets as traders cheered the US Fed’s signal that it will continue to tread on the slow rate hike path, bolstering the lure for risky assets. Dalal Street may see increased volatility today as traders roll over their positions ahead of the April derivative contracts expiry. Shares of ACC, Ambuja Cement, Idea, HCL Tech and Dabur will be in focus as traders eye their quarterly earnings releases today. Meanwhile, the country’s top telecom carrier Bharti Airtel late Wednesday posted earnings that beat Street estimates, with consolidated net profit rising 2.8 per cent, year-on-year, in Q4 FY 2015-16 to Rs 1,290 crore on higher consumption of data and voice services. On the economic front, global ratings giant Moody’s has warned that India’s credit rating profile remains at risk from high government debt levels, historically high inflation, weak infrastructure and complex regulatory regime. The 30-share Sensex on Wednesday rallied by 56.82 points or by 0.22 per cent to end at 26,064.12 led by gains in oil & gas stocks.
Most major Asian markets rose today after the Fed left unchanged its benchmark interest rate and indicated that it plans to stick to its gradual approach in raising interest rates in the world’s biggest economy. While China’s Shanghai Composite succumbed to mild losses, Hang Seng rallied, Japan’s Nikkei 225 advanced over 1 per cent as traders eyed the Bank of Japan policy decision.
