Pre Market Report- Sensex to open tad higher on global rally; IIP & inflation data eyed
12/08/2016
Indian equity benchmarks may witness a slight gap up opening on Friday tracking a rally across markets in Asia and a record finish at Wall Street overnight, but caution ahead of key economic data may weigh on risk taking appetite at Dalal Street. The CNX Nifty Index Futures for August delivery was trading at 8,622, up by 0.06 per cent or 5 points at 10:42 AM Singapore time, a sign that the Sensex may open with slim gains today. All eyes will be on the June industrial output data and July consumer inflation numbers, to be released in after-market hours today, and which will offer further cues over the health of Asia’s third biggest economy. Industrial output in India is expected to have expanded 1.5 per cent, year on year in June 2016 following a 1.2 per cent growth in May 2016. Consumer inflation, on the other hand, may have accelerated to 5.90 per cent in July 2016 from 5.77 per cent in June 2016, leaving little room for near-term monetary easing. Shares of Central Bank of India, Cipla, Dena Bank, Hindalco Industries, Jet Airways, Bank of Maharashtra and Oriental Bank of Commerce will be in focus as they reveal their April-June quarter report cards. Snapping a two-day drop, the 30-share Sensex on Thursday advanced by 84.72 points or by 0.31 per cent to end at 27,859.6 on continued heavy buying by foreign funds while traders looked ahead to fresh Indian economic data.
Asian stocks rose as traders shrugged off signs of a further slowdown in the Chinese economy with growth in industrial output, retail sales and urban fixed-asset investment, all coming in below estimates. China’s industrial output grew 6 per cent, year-on-year in July 2016, compared to an annual gain of 6.2 per cent in June 2016. Shanghai Composite and Hang Seng climbed while Japan’s Nikkei 225 rose as a weaker yen bolstered the lure for exporter stocks. All three US stock benchmarks the Dow, Nasdaq & S&P 500 hit records on Thursday amid better-than-expected corporate earnings while investors looked ahead to Friday’s US retail sales data.
12/08/2016
Indian equity benchmarks may witness a slight gap up opening on Friday tracking a rally across markets in Asia and a record finish at Wall Street overnight, but caution ahead of key economic data may weigh on risk taking appetite at Dalal Street. The CNX Nifty Index Futures for August delivery was trading at 8,622, up by 0.06 per cent or 5 points at 10:42 AM Singapore time, a sign that the Sensex may open with slim gains today. All eyes will be on the June industrial output data and July consumer inflation numbers, to be released in after-market hours today, and which will offer further cues over the health of Asia’s third biggest economy. Industrial output in India is expected to have expanded 1.5 per cent, year on year in June 2016 following a 1.2 per cent growth in May 2016. Consumer inflation, on the other hand, may have accelerated to 5.90 per cent in July 2016 from 5.77 per cent in June 2016, leaving little room for near-term monetary easing. Shares of Central Bank of India, Cipla, Dena Bank, Hindalco Industries, Jet Airways, Bank of Maharashtra and Oriental Bank of Commerce will be in focus as they reveal their April-June quarter report cards. Snapping a two-day drop, the 30-share Sensex on Thursday advanced by 84.72 points or by 0.31 per cent to end at 27,859.6 on continued heavy buying by foreign funds while traders looked ahead to fresh Indian economic data.
Asian stocks rose as traders shrugged off signs of a further slowdown in the Chinese economy with growth in industrial output, retail sales and urban fixed-asset investment, all coming in below estimates. China’s industrial output grew 6 per cent, year-on-year in July 2016, compared to an annual gain of 6.2 per cent in June 2016. Shanghai Composite and Hang Seng climbed while Japan’s Nikkei 225 rose as a weaker yen bolstered the lure for exporter stocks. All three US stock benchmarks the Dow, Nasdaq & S&P 500 hit records on Thursday amid better-than-expected corporate earnings while investors looked ahead to Friday’s US retail sales data.
