Pre Session- Global growth worries may keep Dalal Street under pressure
04/05/2016
The key Indian equity benchmarks may witness a bearish opening on Wednesday as traders across the globe turn increasingly anxious over the outlook for the world economy amidst the possibility of a further hike in US interest rates in June, tumbling oil prices and a widespread factory gloom, curbing the lure for risky assets. The CNX Nifty Index Futures for May delivery fell by 0.47 per cent or 36.5 points at 7,744.5 at 10:45 AM Singapore time, also signaling that the 30-share Sensex may open on a negative note today, after sliding to a fresh three-week low on Tuesday, plunging by 207.27 points or by 0.81 per cent to 25,229.7, marking a second straight finish in the red as weak manufacturing data from the US to China signaled a faltering global economic recovery while mostly lackluster corporate earnings continued to weigh on sentiment. Shares of Jindal Steel & Power and SKS Microfinance will be in focus today as they reveal their quarterly earnings data. The Indian Services PMI data for April, a snapshot of the health of the services sector, is also due in the day. The gauge measuring manufacturing in India fell from an eight-month high of 52.4 in March to a four-month low of 50.5 in April.
While markets in Japan remained shut for a trading holiday, Shanghai Composite was trading tad lower and Hang Seng lost over 1 per cent as investors were unnerved by comments from US Fed officials who signaled the possibility of an interest rate hike in June even as latest manufacturing, consumer and growth data signaled a worsening slowdown in the world’s biggest economy. Global growth worries amid lackluster manufacturing data from key economies, dismal quarterly report cards from most tech giants and plunging oil prices pushed Wall Street in the red on Tuesday.
04/05/2016
The key Indian equity benchmarks may witness a bearish opening on Wednesday as traders across the globe turn increasingly anxious over the outlook for the world economy amidst the possibility of a further hike in US interest rates in June, tumbling oil prices and a widespread factory gloom, curbing the lure for risky assets. The CNX Nifty Index Futures for May delivery fell by 0.47 per cent or 36.5 points at 7,744.5 at 10:45 AM Singapore time, also signaling that the 30-share Sensex may open on a negative note today, after sliding to a fresh three-week low on Tuesday, plunging by 207.27 points or by 0.81 per cent to 25,229.7, marking a second straight finish in the red as weak manufacturing data from the US to China signaled a faltering global economic recovery while mostly lackluster corporate earnings continued to weigh on sentiment. Shares of Jindal Steel & Power and SKS Microfinance will be in focus today as they reveal their quarterly earnings data. The Indian Services PMI data for April, a snapshot of the health of the services sector, is also due in the day. The gauge measuring manufacturing in India fell from an eight-month high of 52.4 in March to a four-month low of 50.5 in April.
While markets in Japan remained shut for a trading holiday, Shanghai Composite was trading tad lower and Hang Seng lost over 1 per cent as investors were unnerved by comments from US Fed officials who signaled the possibility of an interest rate hike in June even as latest manufacturing, consumer and growth data signaled a worsening slowdown in the world’s biggest economy. Global growth worries amid lackluster manufacturing data from key economies, dismal quarterly report cards from most tech giants and plunging oil prices pushed Wall Street in the red on Tuesday.
