Sensex edges higher in opening; oil&gas and realty stocks up
14/09/2016 09:28
NIFTY Fut : SELL ZONE
BANKNIFTY FUT : SELL ZONE
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At 9:15 AM, the Bombay Stock Exchange bellwether Sensex was at 28406.78, up by 53.24 points or by 0.19 per cent, and the NSE Nifty was at 8,727.55, up by 11.95 points or by 0.14 per cent.
Traders also reacted to the IIP and inflation data released after-market hours on Monday, and will eye the WPI inflation numbers set for release today. India’s industrial output contracted 2.4 per cent in July 2016, year-on-year, compared to a revised 1.9 per cent rise in June 2016, signaling renewed weakness in the manufacturing sector.
However, consumer inflation eased to a five-month low of 5.05 per cent in August 2016, falling below the government’s upper limit of its official inflation target of 4 per cent, raising hopes of an interest rate cut by the RBI in the coming months.
On the sectoral front, oil&gas and realty stocks were leading the gsin, adding as much as 0.78 per cent and 0.76 per cent respectively.
On the global front, Asian stocks were trading mixed tracking an overnight slump from Wall Street as investors braced for the prospect of less global monetary stimulus. The US Fed is weighing up options to hike borrowing costs at a time when central banks in Europe and Japan are questioning the need for a further boost to stimulus. Shanghai Composite fell despite improved economic data as August industrial output growth topped estimates at 6.3 per cent. Hang Seng logged slim gains while Nikkei 225 fell amid uncertainty over global central banks’ future policy moves.
14/09/2016 09:28
NIFTY Fut : SELL ZONE
BANKNIFTY FUT : SELL ZONE
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The key domestic benchmark indices belled the day on positive note after a trading holiday on Wednesday undermining weak cues from Asian peers. However, slump across stocks in Asia, and the US overnight, amid worries of global central banks turning less accommodative and volatility in oil prices curbed risk taking appetite.At 9:15 AM, the Bombay Stock Exchange bellwether Sensex was at 28406.78, up by 53.24 points or by 0.19 per cent, and the NSE Nifty was at 8,727.55, up by 11.95 points or by 0.14 per cent.
Traders also reacted to the IIP and inflation data released after-market hours on Monday, and will eye the WPI inflation numbers set for release today. India’s industrial output contracted 2.4 per cent in July 2016, year-on-year, compared to a revised 1.9 per cent rise in June 2016, signaling renewed weakness in the manufacturing sector.
However, consumer inflation eased to a five-month low of 5.05 per cent in August 2016, falling below the government’s upper limit of its official inflation target of 4 per cent, raising hopes of an interest rate cut by the RBI in the coming months.
On the sectoral front, oil&gas and realty stocks were leading the gsin, adding as much as 0.78 per cent and 0.76 per cent respectively.
On the global front, Asian stocks were trading mixed tracking an overnight slump from Wall Street as investors braced for the prospect of less global monetary stimulus. The US Fed is weighing up options to hike borrowing costs at a time when central banks in Europe and Japan are questioning the need for a further boost to stimulus. Shanghai Composite fell despite improved economic data as August industrial output growth topped estimates at 6.3 per cent. Hang Seng logged slim gains while Nikkei 225 fell amid uncertainty over global central banks’ future policy moves.
