Pre Session-Bulls may continue to rule the roost at D-Street
31/05/2016
Indian equity benchmarks are likely to witness a gap up opening on Tuesday tracking a positive trend across markets in Asia as investors continued to assess the prospects of a US interest rate hike this summer. Gains in the CNX Nifty Index Futures for June delivery which advanced by 0.21 per cent or 17.5 points at 8,212.5 at 10:35 AM Singapore time also signal that Dalal Street may open higher today. Shares of Tata Motors may see some buying momentum as the company in after market hours on Monday said that its consolidated net profit for the March 2016 ended quarter tripled to Rs 5,177 crore led by strong sales from its Jaguar Land Rover business in the UK, Europe, North America and China. Caution ahead of key macroeconomic data this week including May auto sales numbers, first quarter GDP data and May manufacturing & services PMI, that will offer fresh cues over the health of Asia’s third biggest economy, may weigh on the Sensex. Marking a fifth straight day in the green, the 30-share Sensex on Monday advanced by 72 points or by 0.27 per cent to end at 26,725.6 amid robust earnings from bluechips such as Hindalco which signaled an improving economic outlook.
Asian stocks were trading higher today as traders remained focused on US interest rate outlook. China’s Shanghai Composite jumped over 2 per cent led by gains in financial and commodity companies, Hang Seng rose while Japan’s Nikkei 225 advanced as a revival in industrial output eased concerns over the world’s third biggest economy. Japanese industrial production climbed 0.3 per cent in April 2016 from the previous month, compared to an expected 1.5 per cent drop. US markets were closed on Monday due to the Memorial Day holiday.
31/05/2016
Indian equity benchmarks are likely to witness a gap up opening on Tuesday tracking a positive trend across markets in Asia as investors continued to assess the prospects of a US interest rate hike this summer. Gains in the CNX Nifty Index Futures for June delivery which advanced by 0.21 per cent or 17.5 points at 8,212.5 at 10:35 AM Singapore time also signal that Dalal Street may open higher today. Shares of Tata Motors may see some buying momentum as the company in after market hours on Monday said that its consolidated net profit for the March 2016 ended quarter tripled to Rs 5,177 crore led by strong sales from its Jaguar Land Rover business in the UK, Europe, North America and China. Caution ahead of key macroeconomic data this week including May auto sales numbers, first quarter GDP data and May manufacturing & services PMI, that will offer fresh cues over the health of Asia’s third biggest economy, may weigh on the Sensex. Marking a fifth straight day in the green, the 30-share Sensex on Monday advanced by 72 points or by 0.27 per cent to end at 26,725.6 amid robust earnings from bluechips such as Hindalco which signaled an improving economic outlook.
Asian stocks were trading higher today as traders remained focused on US interest rate outlook. China’s Shanghai Composite jumped over 2 per cent led by gains in financial and commodity companies, Hang Seng rose while Japan’s Nikkei 225 advanced as a revival in industrial output eased concerns over the world’s third biggest economy. Japanese industrial production climbed 0.3 per cent in April 2016 from the previous month, compared to an expected 1.5 per cent drop. US markets were closed on Monday due to the Memorial Day holiday.
