Pre Session- Dalal Street may open slightly higher; bearish global trend to weigh
08/04/2016
Indian equity benchmarks are likely to witness a mild gap up opening today as the sharp losses in the previous session offer Dalal Street traders a good bargain buying opportunity, in stocks, at existing levels. Mild gains in the CNX Nifty Index futures for April delivery which were trading higher by 0.09 per cent or 7 points at 7,573.5 at 10:18 am Singapore time signal that the Sensex may open on a slightly positive note on Friday. However, caution ahead of the Q4 earnings numbers due in the coming sessions may continue to weigh on local bourses and restrict gains in the Sensex. Meanwhile, investors will continue to weigh the risks faced by the global economy and their likely impact on India. The FOMC minutes which underlined the growing uncertainty plaguing the world economy, reiterated the Fed’s cautious stance over further interest rate hikes. Meanwhile, the Indian economy remains relatively insulated from external shocks, Moody’s said while Finance Minister Arun Jaitley didn’t see the chance of a serious depreciation in the rupee despite ongoing volatility, supporting trader sentiment. The 30-share Sensex on Thursday plunged by 215.21 points or by 0.86 per cent to end at 24,685.42 amid caution ahead of the start of the corporate earnings season.
Asian stocks slumped today as investors remained doubtful over the effectiveness of global central bank stimulus, to help revive a struggling global economy. While the Fed minutes warned of risks to global outlook, the IMF has indicated that it may downgrade its global growth forecasts, souring the lure for risky assets. China’s Shanghai Composite retreated led by dips in consumer and energy shares, Hang Seng fell while Japan’s Nikkei 225 declined as a stronger yen eroded the appeal of exporter stocks. Renewed skepticism over global growth dragged down Wall Street on Thursday with Fed Chair Janet Yellen warning of some slack in the US labour market. Traders cast aside data showing a dip in US jobless claims by 9,000 to 267,000 last week. The Dow Jones Industrial Average fell 0.98 per cent; the Nasdaq Composite tanked 1.47 per cent while S&P 500 tumbled 1.20 per cent, on Thursday.
08/04/2016
Indian equity benchmarks are likely to witness a mild gap up opening today as the sharp losses in the previous session offer Dalal Street traders a good bargain buying opportunity, in stocks, at existing levels. Mild gains in the CNX Nifty Index futures for April delivery which were trading higher by 0.09 per cent or 7 points at 7,573.5 at 10:18 am Singapore time signal that the Sensex may open on a slightly positive note on Friday. However, caution ahead of the Q4 earnings numbers due in the coming sessions may continue to weigh on local bourses and restrict gains in the Sensex. Meanwhile, investors will continue to weigh the risks faced by the global economy and their likely impact on India. The FOMC minutes which underlined the growing uncertainty plaguing the world economy, reiterated the Fed’s cautious stance over further interest rate hikes. Meanwhile, the Indian economy remains relatively insulated from external shocks, Moody’s said while Finance Minister Arun Jaitley didn’t see the chance of a serious depreciation in the rupee despite ongoing volatility, supporting trader sentiment. The 30-share Sensex on Thursday plunged by 215.21 points or by 0.86 per cent to end at 24,685.42 amid caution ahead of the start of the corporate earnings season.
Asian stocks slumped today as investors remained doubtful over the effectiveness of global central bank stimulus, to help revive a struggling global economy. While the Fed minutes warned of risks to global outlook, the IMF has indicated that it may downgrade its global growth forecasts, souring the lure for risky assets. China’s Shanghai Composite retreated led by dips in consumer and energy shares, Hang Seng fell while Japan’s Nikkei 225 declined as a stronger yen eroded the appeal of exporter stocks. Renewed skepticism over global growth dragged down Wall Street on Thursday with Fed Chair Janet Yellen warning of some slack in the US labour market. Traders cast aside data showing a dip in US jobless claims by 9,000 to 267,000 last week. The Dow Jones Industrial Average fell 0.98 per cent; the Nasdaq Composite tanked 1.47 per cent while S&P 500 tumbled 1.20 per cent, on Thursday.
