The key domestic benchmarks may open lower today tracking a massive sell-off across markets in Asia amid speculation that commitment by global central banks to maintain easy money policy may not be enough to offset a waning global economic recovery. US Fed officials last week signaled risks to the country’s economic outlook from a slowing global economy while fears of a renewed recession in the Euro area have risen. China’s Shanghai Composite tumbled despite positive trade data which showed a 15.3 per cent, year on year rise in exports in September 2014. Hang Seng fell while Japan’s Nikkei 225 was closed today.
Showing posts with label Pre Session- Sensex to open lower on Asia sell-off. Show all posts
Showing posts with label Pre Session- Sensex to open lower on Asia sell-off. Show all posts
Pre Session- Sensex to open lower on Asia sell-off: 08.10.2014
The key domestic benchmarks are likely to open lower today tracking a bearish trend in fellow Asian peers as concerns over a slowing global economy mar sentiment, curbing the appetite for risky assets. Asian markets tumbled as the IMF slashed its growth forecast for the world economy to 3.8 per cent next year from 4 per cent, warning over the impact of heightened geopolitical tensions and overheated stock markets. Further, German industrial output tumbled the most in more than five years in August 2014 while investors were cautious ahead of the FOMC minutes today where the US Federal Reserve may offer pointers over the timing to raise interest rates for the first time since 2006. China’s Shanghai Composite was trading tad lower after markets re-opened for the first time since October 1. Hang Seng fell while Japan’s Nikkei 225 tumbled as a stronger yen dimmed the appeal of exporter stocks. Back home, caution may prevail ahead of the start of the Q2 earnings season on Friday when Infosys will unveil its September quarter report card.
Subscribe to:
Posts (Atom)