Pre Session- Gap up opening seen for Dalal Street but global sell-off may weigh
22/04/2016
The key Indian equity benchmarks are likely to witness a positive opening on the last trading day of the week as continued optimism over the outlook for Asia’s third biggest economy following latest upbeat macroeconomic data including industrial output and inflation, and forecast for a good monsoon, bolster risk taking appetite. A rise in the CNX Nifty Index Futures for April delivery, which advanced by 0.13 per cent or 10 points at 7,914.5 at 11:00 AM Singapore time, signals that the Sensex may open higher today. Shares of Cairn India, RIL and HDFC Bank will be in focus as the companies report their Q4 earnings.
However gains in the Sensex may be curbed by a bearish trend in Asian equities with all three of the Shanghai Composite, Hang Seng and Nikkei 225 trading in the red on Friday as a batch of disappointing corporate earnings worldwide signaled sluggishness in the global economy while traders grow increasingly doubtful over global central banks’ ability to prop up a faltering economic recovery. Wall Street ended lower on Thursday as a rebound in the US leading economic index and falling jobless claims were overshadowed by poor earnings data from the likes of Microsoft.
22/04/2016
The key Indian equity benchmarks are likely to witness a positive opening on the last trading day of the week as continued optimism over the outlook for Asia’s third biggest economy following latest upbeat macroeconomic data including industrial output and inflation, and forecast for a good monsoon, bolster risk taking appetite. A rise in the CNX Nifty Index Futures for April delivery, which advanced by 0.13 per cent or 10 points at 7,914.5 at 11:00 AM Singapore time, signals that the Sensex may open higher today. Shares of Cairn India, RIL and HDFC Bank will be in focus as the companies report their Q4 earnings.
However gains in the Sensex may be curbed by a bearish trend in Asian equities with all three of the Shanghai Composite, Hang Seng and Nikkei 225 trading in the red on Friday as a batch of disappointing corporate earnings worldwide signaled sluggishness in the global economy while traders grow increasingly doubtful over global central banks’ ability to prop up a faltering economic recovery. Wall Street ended lower on Thursday as a rebound in the US leading economic index and falling jobless claims were overshadowed by poor earnings data from the likes of Microsoft.
