Pre Session- Sensex may open tad higher as Fed decision looms
27/04/2016
The key domestic equity benchmarks are likely to witness a mild gap up opening on Wednesday ahead of the expiry of the April derivative contracts tomorrow and the outcome of the US Federal Reserve’s two-day policy meet in which the world’s top central bank may offer clues over the timing for the next interest rate hike following the one undertaken last December. Traders will also eye key earnings numbers from blue chip stocks which may provide further cues over corporate health in Asia’s third biggest economy. Bharti Airtel, JSW Energy and Yes Bank will be in focus today as they unveil their financial report card for the fourth quarter ended March 31, 2016. The CNX Nifty Index Futures for April delivery climbed 0.09 per cent or 7.5 points at 7,972.5 at 10:55 AM Singapore time, also signaling that Dalal Street may open with slim gains today. The 30-share Sensex on Tuesday regained the 26K mark, advancing by 328.37 points or by 1.28 per cent to end at 26,007.3 led by gains in banking and metal stocks.
Traders are also hoping that the ongoing Budget Session of the Parliament may result in a breakthrough for the long pending GST bill. On the economic front, the vice-chairman of the Niti Aayog Arvind Panagariya has said that he sees the country’s economy growing over 8 per cent in FY 2016-17 if the predictions of the above-normal monsoon come true, bolstering the crucial agriculture sector and farm incomes.
Asian markets were mixed with Shanghai Composite logging modest gains but Hang Seng and Nikkei 225 fell as traders awaited the Fed and Bank of Japan policy decisions. While the Fed is unlikely to raise interest rates today, traders will be closely scrutinizing the FOMC statement to look for any potential shifts in its guidance for a further hike in borrowing costs
27/04/2016
The key domestic equity benchmarks are likely to witness a mild gap up opening on Wednesday ahead of the expiry of the April derivative contracts tomorrow and the outcome of the US Federal Reserve’s two-day policy meet in which the world’s top central bank may offer clues over the timing for the next interest rate hike following the one undertaken last December. Traders will also eye key earnings numbers from blue chip stocks which may provide further cues over corporate health in Asia’s third biggest economy. Bharti Airtel, JSW Energy and Yes Bank will be in focus today as they unveil their financial report card for the fourth quarter ended March 31, 2016. The CNX Nifty Index Futures for April delivery climbed 0.09 per cent or 7.5 points at 7,972.5 at 10:55 AM Singapore time, also signaling that Dalal Street may open with slim gains today. The 30-share Sensex on Tuesday regained the 26K mark, advancing by 328.37 points or by 1.28 per cent to end at 26,007.3 led by gains in banking and metal stocks.
Traders are also hoping that the ongoing Budget Session of the Parliament may result in a breakthrough for the long pending GST bill. On the economic front, the vice-chairman of the Niti Aayog Arvind Panagariya has said that he sees the country’s economy growing over 8 per cent in FY 2016-17 if the predictions of the above-normal monsoon come true, bolstering the crucial agriculture sector and farm incomes.
Asian markets were mixed with Shanghai Composite logging modest gains but Hang Seng and Nikkei 225 fell as traders awaited the Fed and Bank of Japan policy decisions. While the Fed is unlikely to raise interest rates today, traders will be closely scrutinizing the FOMC statement to look for any potential shifts in its guidance for a further hike in borrowing costs
