Pre Session- Bulls may continue to rule the roost at Dalal Street
21/04/2016 08:34
The key Indian equity benchmarks are likely to witness a gap up opening on Thursday tracking mostly bullish cues from Asia as oil prices bounced back, boosting inflows into risky assets. While Shanghai Composite remained in the red, extending Wednesday’s steep slump, Hang Seng soared by more than 1 per cent and Japan’s Nikkei 225 jumped nearly 2 per cent as a weaker yen bolstered the appeal of exporter stocks and traders cheered higher oil prices driven by falling US production and reports of a fresh output freeze meeting between OPEC and other producers next month.
A rise in the CNX Nifty Index Futures for April delivery, which advanced by 0.40 per cent or 32 points at 7,967 at 10:55 AM Singapore time, signals a positive opening for the Sensex today, following it 5-day winning streak. Traders will take heart from Finance Minister Arun Jaitley’s statement that the Indian economy could grow by as much as 8.5 per cent in FY 2016-17 if the monsoon forecast comes true, but dismal earnings data from Wipro may weigh on IT stocks. The IT firm in after market hours on Wednesday had reported that its Q4 net income fell 1.6 per cent at Rs 2,235 crore from the same period a year ago. In choppy trade on Wednesday, the Sensex logged slim gains of 7.82 points or 0.11 per cent to end at 25,844.18.
21/04/2016 08:34
The key Indian equity benchmarks are likely to witness a gap up opening on Thursday tracking mostly bullish cues from Asia as oil prices bounced back, boosting inflows into risky assets. While Shanghai Composite remained in the red, extending Wednesday’s steep slump, Hang Seng soared by more than 1 per cent and Japan’s Nikkei 225 jumped nearly 2 per cent as a weaker yen bolstered the appeal of exporter stocks and traders cheered higher oil prices driven by falling US production and reports of a fresh output freeze meeting between OPEC and other producers next month.
A rise in the CNX Nifty Index Futures for April delivery, which advanced by 0.40 per cent or 32 points at 7,967 at 10:55 AM Singapore time, signals a positive opening for the Sensex today, following it 5-day winning streak. Traders will take heart from Finance Minister Arun Jaitley’s statement that the Indian economy could grow by as much as 8.5 per cent in FY 2016-17 if the monsoon forecast comes true, but dismal earnings data from Wipro may weigh on IT stocks. The IT firm in after market hours on Wednesday had reported that its Q4 net income fell 1.6 per cent at Rs 2,235 crore from the same period a year ago. In choppy trade on Wednesday, the Sensex logged slim gains of 7.82 points or 0.11 per cent to end at 25,844.18.
